OmniAb, Inc. (NASDAQ:OABI) Receives Average Rating of “Buy” from Analysts

Shares of OmniAb, Inc. (NASDAQ:OABIGet Free Report) have been given a consensus rating of “Buy” by the six brokerages that are covering the stock, reports. Six research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $9.17.

OABI has been the topic of a number of analyst reports. Royal Bank of Canada initiated coverage on shares of OmniAb in a research note on Wednesday, November 29th. They set an “outperform” rating and a $6.00 target price on the stock. Benchmark restated a “buy” rating and set a $8.00 target price on shares of OmniAb in a research note on Tuesday, November 14th.

Read Our Latest Report on OmniAb

Insider Buying and Selling at OmniAb

In related news, CEO Matthew W. Foehr purchased 95,000 shares of OmniAb stock in a transaction on Friday, November 10th. The shares were bought at an average cost of $4.27 per share, for a total transaction of $405,650.00. Following the acquisition, the chief executive officer now owns 2,427,919 shares in the company, valued at approximately $10,367,214.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.00% of the stock is currently owned by insiders.

Institutional Trading of OmniAb

A number of institutional investors and hedge funds have recently bought and sold shares of OABI. BlackRock Inc. bought a new stake in OmniAb in the 1st quarter valued at $21,021,000. Macquarie Group Ltd. bought a new stake in shares of OmniAb in the 1st quarter worth about $13,908,000. Rubric Capital Management LP increased its holdings in shares of OmniAb by 306.0% in the 3rd quarter. Rubric Capital Management LP now owns 2,850,588 shares of the company’s stock worth $14,795,000 after buying an additional 2,148,535 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of OmniAb in the 1st quarter worth about $7,120,000. Finally, Geode Capital Management LLC bought a new stake in shares of OmniAb in the 1st quarter worth about $6,482,000. 58.73% of the stock is currently owned by institutional investors.

OmniAb Stock Performance

OABI opened at $5.92 on Friday. OmniAb has a fifty-two week low of $3.14 and a fifty-two week high of $6.72. The firm’s fifty day moving average is $5.70 and its 200 day moving average is $5.33. The stock has a market cap of $688.14 million, a price-to-earnings ratio of -19.73 and a beta of -0.17.

OmniAb (NASDAQ:OABIGet Free Report) last released its earnings results on Thursday, November 9th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). OmniAb had a negative net margin of 45.99% and a negative return on equity of 8.88%. The firm had revenue of $5.48 million for the quarter, compared to analysts’ expectations of $11.37 million. On average, equities research analysts predict that OmniAb will post -0.53 earnings per share for the current year.

OmniAb Company Profile

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OmniAb, Inc, a biotechnology company, engages in the provision of therapeutic antibody discovery technologies in the United States. The company's discovery platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts. Its OmniAb platform is the biological intelligence of proprietary transgenic animals, including OmniRat, OmniChicken, and OmniMouse that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates.

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Analyst Recommendations for OmniAb (NASDAQ:OABI)

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