OmniAb (NASDAQ:OABI) Sees Large Volume Increase – What’s Next?

OmniAb, Inc. (NASDAQ:OABI) saw unusually-strong trading volume on Tuesday . Approximately 659,457 shares traded hands during trading, a decline of 1% from the previous session’s volume of 665,467 shares.The stock last traded at $3.9450 and had previously closed at $3.82.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of OmniAb from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 6th. HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of OmniAb in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, OmniAb currently has a consensus rating of “Hold” and an average price target of $11.00.

OmniAb Stock Up 6.9%

The company has a market capitalization of $606.63 million, a P/E ratio of -11.64 and a beta of 0.45. The business has a 50 day moving average of $2.44 and a 200 day moving average of $2.06.

OmniAb (NASDAQ:OABI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The business had revenue of $13.41 million for the quarter, compared to the consensus estimate of $4.69 million. OmniAb had a negative return on equity of 16.59% and a negative net margin of 115.12%. On average, research analysts anticipate that OmniAb, Inc. will post -0.35 EPS for the current year.

Institutional Investors Weigh In On OmniAb

Several large investors have recently bought and sold shares of OABI. Whitefort Capital Management LP bought a new position in OmniAb during the second quarter valued at $25,211,699,000. BlackRock Inc. bought a new stake in shares of OmniAb in the 2nd quarter worth about $21,888,000. Woodline Partners LP bought a new position in shares of OmniAb in the 3rd quarter valued at about $4,571,000. Rice Hall James & Associates LLC bought a new position in shares of OmniAb in the 2nd quarter valued at about $6,422,000. Finally, Kent Lake PR LLC grew its position in OmniAb by 677.8% in the second quarter. Kent Lake PR LLC now owns 1,750,000 shares of the company’s stock worth $3,045,000 after acquiring an additional 1,525,000 shares in the last quarter. Institutional investors own 72.08% of the company’s stock.

About OmniAb

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.