OmniAb (NASDAQ:OABI) Shares Up 0.5% – What’s Next?

OmniAb, Inc. (NASDAQ:OABI)’s stock price shot up 0.5% during trading on Thursday . The stock traded as high as $1.86 and last traded at $1.86. 550,259 shares were traded during trading, an increase of 71% from the average session volume of 321,740 shares. The stock had previously closed at $1.85.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of OmniAb in a research report on Monday, December 22nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, OmniAb has a consensus rating of “Moderate Buy” and an average target price of $6.67.

OmniAb Stock Up 0.5%

The firm has a market cap of $267.77 million, a P/E ratio of -3.21 and a beta of 0.13. The business’s 50 day moving average is $1.93 and its two-hundred day moving average is $1.79.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. OmniAb had a negative return on equity of 23.14% and a negative net margin of 301.83%.The firm had revenue of $2.24 million during the quarter, compared to the consensus estimate of $5.64 million. Equities research analysts anticipate that OmniAb, Inc. will post -0.61 EPS for the current year.

Insider Buying and Selling

In other news, CEO Matthew W. Foehr sold 13,666 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $1.96, for a total transaction of $26,785.36. Following the completion of the sale, the chief executive officer owned 4,360,083 shares of the company’s stock, valued at $8,545,762.68. This trade represents a 0.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Higgins acquired 41,038 shares of the stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $1.38 per share, with a total value of $56,632.44. Following the purchase, the director directly owned 2,929,148 shares in the company, valued at $4,042,224.24. This represents a 1.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 45,632 shares of company stock valued at $89,439 over the last 90 days. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On OmniAb

Large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its holdings in shares of OmniAb by 214.4% during the second quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock valued at $25,000 after purchasing an additional 9,716 shares during the period. AQR Capital Management LLC bought a new stake in OmniAb in the 1st quarter valued at about $25,000. BNP Paribas Financial Markets raised its stake in OmniAb by 92.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company’s stock worth $35,000 after buying an additional 10,438 shares during the period. Cerity Partners LLC boosted its holdings in OmniAb by 111.5% in the second quarter. Cerity Partners LLC now owns 22,612 shares of the company’s stock worth $39,000 after acquiring an additional 11,919 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in OmniAb by 96.6% in the fourth quarter. SG Americas Securities LLC now owns 23,141 shares of the company’s stock worth $43,000 after acquiring an additional 11,369 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

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.