OmniAb (NASDAQ:OABI) Announces Earnings Results

OmniAb (NASDAQ:OABI) posted its earnings results on Tuesday. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02), reports. The firm had revenue of $4.17 million during the quarter, compared to analyst estimates of $8.87 million. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.77%.

OmniAb Stock Down 9.4 %

Shares of NASDAQ OABI opened at $4.07 on Thursday. The business’s 50 day moving average is $4.19 and its two-hundred day moving average is $4.28. OmniAb has a 52-week low of $3.56 and a 52-week high of $6.72. The firm has a market cap of $480.91 million, a price-to-earnings ratio of -6.56 and a beta of -0.12.

Analyst Ratings Changes

A number of research analysts recently commented on OABI shares. Benchmark reiterated a “buy” rating and issued a $8.00 price objective on shares of OmniAb in a report on Monday, August 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $7.00 price target on shares of OmniAb in a research note on Friday, August 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of OmniAb in a report on Thursday.

Institutional Investors Weigh In On OmniAb

A number of institutional investors have recently modified their holdings of the company. BBR Partners LLC lifted its stake in OmniAb by 250.0% during the 3rd quarter. BBR Partners LLC now owns 70,000 shares of the company’s stock worth $296,000 after acquiring an additional 50,000 shares in the last quarter. FMR LLC boosted its stake in shares of OmniAb by 10.6% in the third quarter. FMR LLC now owns 138,813 shares of the company’s stock valued at $587,000 after purchasing an additional 13,324 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of OmniAb by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 787,522 shares of the company’s stock valued at $3,331,000 after purchasing an additional 16,219 shares in the last quarter. Intech Investment Management LLC purchased a new stake in OmniAb during the 3rd quarter worth approximately $70,000. Finally, Towerview LLC lifted its holdings in OmniAb by 2.8% during the 3rd quarter. Towerview LLC now owns 550,000 shares of the company’s stock worth $2,326,000 after buying an additional 15,000 shares in the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

OmniAb Company Profile

OmniAb, Inc, a biotechnology company, engages in the discovery and provision of therapeutic antibody discovery technologies in the United States. The company's technology platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts.