OmniAb (NASDAQ:OABI) Stock Price Up 3.3% – Still a Buy?

OmniAb, Inc. (NASDAQ:OABI)’s share price traded up 3.3% during mid-day trading on Monday . The stock traded as high as $1.57 and last traded at $1.56. 199,203 shares changed hands during trading, a decline of 41% from the average session volume of 340,516 shares. The stock had previously closed at $1.51.

Analyst Ratings Changes

Several brokerages have recently weighed in on OABI. Benchmark reissued a “buy” rating on shares of OmniAb in a research report on Friday, March 6th. Wall Street Zen raised shares of OmniAb from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of OmniAb in a research note on Monday, December 22nd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.50.

OmniAb Stock Performance

The firm has a market capitalization of $225.86 million, a price-to-earnings ratio of -2.74 and a beta of 0.13. The company has a fifty day moving average of $1.78 and a two-hundred day moving average of $1.76.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings data on Wednesday, March 4th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The firm had revenue of $8.38 million during the quarter, compared to analyst estimates of $9.00 million. OmniAb had a negative net margin of 347.04% and a negative return on equity of 23.99%. Equities analysts forecast that OmniAb, Inc. will post -0.61 EPS for the current year.

Insider Activity

In related news, CEO Matthew W. Foehr sold 30,843 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $1.71, for a total value of $52,741.53. Following the transaction, the chief executive officer directly owned 4,403,277 shares in the company, valued at approximately $7,529,603.67. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 84,389 shares of company stock valued at $143,959 over the last three months. Insiders own 8.60% of the company’s stock.

Institutional Trading of OmniAb

A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. grew its position in shares of OmniAb by 9.9% during the 4th quarter. Invesco Ltd. now owns 136,309 shares of the company’s stock worth $252,000 after purchasing an additional 12,258 shares in the last quarter. Millennium Management LLC raised its position in shares of OmniAb by 135.6% in the fourth quarter. Millennium Management LLC now owns 673,395 shares of the company’s stock valued at $1,246,000 after buying an additional 387,594 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of OmniAb in the fourth quarter valued at approximately $88,000. Bridgeway Capital Management LLC boosted its stake in shares of OmniAb by 29.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 198,900 shares of the company’s stock valued at $368,000 after buying an additional 45,000 shares during the period. Finally, Cadian Capital Management LP grew its position in OmniAb by 20.7% during the fourth quarter. Cadian Capital Management LP now owns 4,434,954 shares of the company’s stock worth $8,205,000 after buying an additional 759,386 shares in the last quarter. Institutional investors own 72.08% of the company’s stock.

OmniAb Company Profile

OmniAb, Inc (NASDAQ: OABI) operates as a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s integrated antibody discovery platform combines proprietary transgenic animal models, in vitro screening, and in silico engineering to accelerate lead identification and optimization. OmniAb offers both fee-for-service collaborations and license agreements, enabling biopharmaceutical partners to leverage its suite of technologies for programs spanning oncology, immunology, and other therapeutic areas.

Founded in 2016 and headquartered in Seattle, Washington, OmniAb went public in May 2021.