Benchmark Reiterates Buy Rating for OmniAb (NASDAQ:OABI)

OmniAb (NASDAQ:OABI)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $8.00 price objective on the stock. Benchmark’s target price indicates a potential upside of 106.19% from the company’s current price.

Several other research analysts have also recently weighed in on OABI. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $7.00 price objective on shares of OmniAb in a research note on Friday, August 16th.

OmniAb Stock Performance

Shares of OABI stock opened at $3.88 on Thursday. OmniAb has a 52 week low of $3.56 and a 52 week high of $6.72. The company has a market capitalization of $458.46 million, a price-to-earnings ratio of -6.26 and a beta of -0.12. The company has a 50-day simple moving average of $4.18 and a 200 day simple moving average of $4.27.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). The firm had revenue of $4.17 million for the quarter, compared to the consensus estimate of $8.87 million. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. Sell-side analysts forecast that OmniAb will post -0.58 EPS for the current year.

Institutional Trading of OmniAb

A number of institutional investors have recently modified their holdings of the stock. Bellevue Group AG bought a new position in shares of OmniAb in the first quarter worth $62,000. CWC Advisors LLC. bought a new position in OmniAb in the 3rd quarter valued at about $54,000. Walleye Capital LLC acquired a new position in shares of OmniAb in the 3rd quarter valued at approximately $61,000. Intech Investment Management LLC bought a new stake in shares of OmniAb during the 3rd quarter worth approximately $70,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of OmniAb by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,727 shares of the company’s stock worth $96,000 after acquiring an additional 8,909 shares during the period. 72.08% of the stock is currently owned by institutional investors.

About OmniAb

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.