HC Wainwright Has Bullish Outlook for OmniAb FY2030 Earnings

OmniAb, Inc. (NASDAQ:OABI) – Research analysts at HC Wainwright boosted their FY2030 EPS estimates for OmniAb in a research note issued to investors on Friday, October 30th. HC Wainwright analyst J. Pantginis now expects that the company will post earnings of $0.07 per share for the year, up from their prior estimate of $0.05. HC Wainwright currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for OmniAb’s current full-year earnings is ($0.35) per share.

A number of other research firms have also commented on OABI. Weiss Ratings upgraded OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Leerink Partners boosted their price objective on OmniAb from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 7th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.50.

OmniAb Price Performance

OABI stock opened at $5.09 on Monday. OmniAb has a 52-week low of $1.30 and a 52-week high of $5.43. The company has a 50-day moving average of $4.67 and a two-hundred day moving average of $2.72. The stock has a market capitalization of $736.93 million, a price-to-earnings ratio of -14.97 and a beta of 0.60.

OmniAb (NASDAQ:OABI) last announced its earnings results on Friday, October 30th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. The firm had revenue of $3.99 million for the quarter, compared to the consensus estimate of $3.49 million. OmniAb had a negative net margin of 115.12% and a negative return on equity of 16.59%.

Hedge Funds Weigh In On OmniAb

A number of institutional investors and hedge funds have recently bought and sold shares of OABI. Whitefort Capital Management LP bought a new position in shares of OmniAb during the 2nd quarter worth about $25,211,699. BlackRock Inc. acquired a new position in shares of OmniAb during the second quarter valued at about $21,888,000. Rice Hall James & Associates LLC bought a new stake in shares of OmniAb in the second quarter valued at about $6,422,000. ADAR1 Capital Management LLC bought a new stake in shares of OmniAb in the second quarter valued at about $2,331,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of OmniAb in the second quarter valued at about $783,000. Institutional investors own 72.08% of the company’s stock.

OmniAb Company Profile

OmniAb, Inc is a biotechnology company that develops and licenses antibody discovery technologies for use in drug research and development. Its platform is designed to help biopharmaceutical companies generate fully human and species-diverse antibodies that can be evaluated as potential treatments for a range of diseases.

The company’s technology portfolio includes genetically engineered animal platforms, such as OmniRat, OmniMouse and OmniChicken, which are used to produce antibody candidates against challenging biological targets.