OmniAb (NASDAQ:OABI) Trading 3.3% Higher - What's Next?

Key Points

• OmniAb shares rose 3.3% on Monday to $1.56, with 199,203 shares traded—about 41% below the average session volume.
• Analysts are mixed but cautious: the consensus rating is "Hold" with a $4.50 average target after recent notes ranging from buy to sell.
• The company missed quarterly estimates (EPS ‑$0.11 vs. ‑$0.08 expected) and revenue fell short, leaving steep negative margins and a projected FY EPS of ‑0.61, while insiders have been net sellers (insiders own 8.6%).

OmniAb, Inc. (NASDAQ:OABI - Get Free Report) shares traded up 3.3% during trading on Monday . The company traded as high as $1.57 and last traded at $1.56. 199,203 shares traded hands during trading, a decline of 41% from the average session volume of 340,516 shares. The stock had previously closed at $1.51.

Analyst Upgrades and Downgrades

OABI has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of OmniAb from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Weiss Ratings reissued a "sell (e+)" rating on shares of OmniAb in a report on Monday, December 22nd. Finally, Benchmark reissued a "buy" rating on shares of OmniAb in a research note on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.50.

OmniAb Stock Performance

The firm has a fifty day moving average price of $1.79 and a 200 day moving average price of $1.76. The company has a market cap of $225.86 million, a price-to-earnings ratio of -2.74 and a beta of 0.13.

OmniAb (NASDAQ:OABI - Get Free Report) last issued its earnings results on Wednesday, March 4th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.03). The firm had revenue of $8.38 million for the quarter, compared to analyst estimates of $9.00 million. OmniAb had a negative return on equity of 23.99% and a negative net margin of 347.04%. On average, analysts expect that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

Insider Activity

In other OmniAb news, CEO Matthew W. Foehr sold 30,843 shares of the business's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $1.71, for a total value of $52,741.53. Following the completion of the sale, the chief executive officer owned 4,403,277 shares of the company's stock, valued at $7,529,603.67. The trade was a 0.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 84,389 shares of company stock valued at $143,959 over the last three months. Insiders own 8.60% of the company's stock.

Institutional Trading of OmniAb

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new position in OmniAb in the 1st quarter valued at approximately $25,000. Jane Street Group LLC raised its position in shares of OmniAb by 26.3% in the 1st quarter. Jane Street Group LLC now owns 80,778 shares of the company's stock worth $194,000 after acquiring an additional 16,823 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in OmniAb by 28.3% in the second quarter. JPMorgan Chase & Co. now owns 793,734 shares of the company's stock worth $1,381,000 after purchasing an additional 175,297 shares in the last quarter. Rhumbline Advisers increased its stake in shares of OmniAb by 6.0% in the 2nd quarter. Rhumbline Advisers now owns 160,728 shares of the company's stock valued at $280,000 after acquiring an additional 9,163 shares in the last quarter. Finally, XTX Topco Ltd boosted its position in shares of OmniAb by 156.5% during the 2nd quarter. XTX Topco Ltd now owns 137,171 shares of the company's stock worth $239,000 after purchasing an additional 83,687 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.

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