HC Wainwright Reiterates Buy Rating for OmniAb (NASDAQ:OABI)

OmniAb (NASDAQ:OABI)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $11.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 183.51% from the stock’s previous close.

OABI has been the subject of several other reports. Benchmark reissued 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 reiterated an “outperform” rating and issued a $7.00 price target on shares of OmniAb in a report on Friday, August 16th.

OmniAb Trading Down 4.7 %

OmniAb stock opened at $3.88 on Thursday. The stock has a 50 day moving average of $4.18 and a 200-day moving average of $4.27. The stock has a market cap of $458.46 million, a P/E ratio of -6.26 and a beta of -0.12. OmniAb has a 52 week low of $3.56 and a 52 week high of $6.72.

OmniAb (NASDAQ:OABI) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). The company had revenue of $4.17 million for the quarter, compared to the consensus estimate of $8.87 million. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. As a group, equities analysts predict that OmniAb will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OABI. CWC Advisors LLC. bought a new position in shares of OmniAb during the third quarter worth about $54,000. Walleye Capital LLC acquired a new position in OmniAb during the 3rd quarter valued at about $61,000. Bellevue Group AG bought a new position in OmniAb in the 1st quarter worth about $62,000. Intech Investment Management LLC acquired a new stake in shares of OmniAb in the third quarter valued at approximately $70,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of OmniAb by 64.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 22,727 shares of the company’s stock valued at $96,000 after buying an additional 8,909 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors.

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.