HC Wainwright Has Positive Opinion of OmniAb FY2030 Earnings

Key Points

• HC Wainwright raised its FY2030 EPS estimate for OmniAb to $0.07 from $0.05, while maintaining a “Buy” rating and an $11 price target.
• OmniAb’s latest quarterly results modestly beat expectations, with a loss of $0.12 per share versus the $0.13 consensus estimate and revenue of $3.99 million versus $3.49 million expected.
• Analyst sentiment is generally positive: three analysts rate the stock Buy and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $11.50.

OmniAb, Inc. (NASDAQ:OABI - Free Report) - Stock analysts at HC Wainwright lifted their FY2030 earnings per share estimates for shares of OmniAb in a research report issued to clients and 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 previous estimate of $0.05. HC Wainwright has a "Buy" rating and a $11.00 price objective on the stock. The consensus estimate for OmniAb's current full-year earnings is ($0.35) per share.

OmniAb (NASDAQ:OABI - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.01. OmniAb had a negative net margin of 108.11% and a negative return on equity of 16.51%. The business had revenue of $3.99 million for the quarter, compared to analysts' expectations of $3.49 million.

A number of other equities research analysts also recently weighed in on OABI. Leerink Partners lifted their target price on OmniAb from $10.00 to $12.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 7th. Weiss Ratings upgraded OmniAb from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, OmniAb presently has a consensus rating of "Moderate Buy" and an average target price of $11.50.

OmniAb Stock Performance

NASDAQ:OABI opened at $5.11 on Monday. The stock has a market cap of $739.83 million, a PE ratio of -15.03 and a beta of 0.60. The stock has a 50 day moving average price of $4.65 and a 200 day moving average price of $2.71. OmniAb has a one year low of $1.30 and a one year high of $5.43.

Institutional Investors Weigh In On OmniAb

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of OmniAb in the third quarter worth approximately $37,000. Legal & General Group Plc acquired a new position in OmniAb in the 2nd quarter valued at about $28,000. Canada Pension Plan Investment Board acquired a new stake in OmniAb in the second quarter valued at approximately $37,000. Two Sigma Securities LLC acquired a new position in shares of OmniAb in the second quarter worth about $39,000. Finally, State of Wyoming grew its stake in OmniAb by 101.7% during the first quarter. State of Wyoming now owns 24,694 shares of the company's stock worth $39,000 after buying an additional 12,451 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company's stock.

About OmniAb

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.

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