OmniAb's (OABI) "Buy" Rating Reiterated at Benchmark

OmniAb (NASDAQ:OABI - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Benchmark in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $6.00 price target on the stock. Benchmark's price objective suggests a potential upside of 309.56% from the company's previous close.

Several other equities research analysts have also recently issued reports on OABI. HC Wainwright reiterated a "buy" rating and issued a $11.00 price objective on shares of OmniAb in a report on Wednesday, March 19th. Royal Bank of Canada lowered their target price on OmniAb from $7.00 to $4.00 and set an "outperform" rating on the stock in a report on Thursday, March 27th.

OmniAb Stock Up 1.7%

Shares of NASDAQ:OABI traded up $0.03 during trading on Monday, reaching $1.47. 280,629 shares of the company's stock traded hands, compared to its average volume of 611,776. OmniAb has a fifty-two week low of $1.43 and a fifty-two week high of $4.96. The firm has a market cap of $178.93 million, a PE ratio of -2.36 and a beta of 0.10. The company has a 50-day simple moving average of $2.24 and a 200-day simple moving average of $3.19.

OmniAb (NASDAQ:OABI - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.17). OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. The company had revenue of $4.15 million for the quarter, compared to analysts' expectations of $4.49 million. On average, equities research analysts forecast that OmniAb will post -0.61 EPS for the current year.

Insider Transactions at OmniAb

In other news, CEO Matthew W. Foehr sold 19,382 shares of OmniAb stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $2.00, for a total transaction of $38,764.00. Following the sale, the chief executive officer now owns 3,796,236 shares of the company's stock, valued at approximately $7,592,472. The trade was a 0.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kurt A. Gustafson sold 7,255 shares of OmniAb stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $3.67, for a total transaction of $26,625.85. Following the sale, the chief financial officer now directly owns 206,211 shares in the company, valued at approximately $756,794.37. The trade was a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,985 shares of company stock worth $189,773 in the last ninety days. Insiders own 8.60% of the company's stock.

Institutional Trading of OmniAb

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC purchased a new stake in OmniAb in the first quarter valued at approximately $26,000. Hsbc Holdings PLC acquired a new position in shares of OmniAb during the fourth quarter worth $38,000. Choreo LLC acquired a new position in shares of OmniAb during the fourth quarter worth $41,000. Rangeley Capital LLC acquired a new position in OmniAb in the fourth quarter valued at $41,000. Finally, KLP Kapitalforvaltning AS acquired a new position in OmniAb in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 72.08% of the company's stock.

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.

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