Benchmark Reaffirms “Buy” Rating for OmniAb (NASDAQ:OABI)

Benchmark reiterated their buy rating on shares of OmniAb (NASDAQ:OABI) in a research note released on Thursday morning,Benzinga reports. Benchmark currently has a $8.00 target price on the stock.

A number of other research analysts also recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of OmniAb in a research report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $7.00 target price on shares of OmniAb in a report on Friday, August 16th.

OmniAb Price Performance

NASDAQ OABI traded down $0.19 on Thursday, reaching $3.88. The company had a trading volume of 737,046 shares, compared to its average volume of 505,689. The firm has a market cap of $458.46 million, a price-to-earnings ratio of -6.27 and a beta of -0.12. OmniAb has a fifty-two week low of $3.56 and a fifty-two week high of $6.72. The business has a 50 day moving average of $4.19 and a two-hundred day moving average of $4.28.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02). The company 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 20.97%. As a group, research 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 modified their holdings of the stock. State Street Corp boosted its stake in OmniAb by 1.7% during the third quarter. State Street Corp now owns 2,031,676 shares of the company’s stock worth $8,594,000 after acquiring an additional 34,654 shares in the last quarter. Murchinson Ltd. bought a new stake in OmniAb in the third quarter valued at $4,230,000. PDT Partners LLC bought a new position in shares of OmniAb during the 3rd quarter worth about $123,000. Walleye Capital LLC acquired a new stake in shares of OmniAb in the 3rd quarter valued at about $61,000. Finally, BBR Partners LLC increased its position in OmniAb by 250.0% in the 3rd quarter. BBR Partners LLC now owns 70,000 shares of the company’s stock valued at $296,000 after buying an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

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.