OmniAb (OABI) Set to Announce Earnings on Thursday

OmniAb (NASDAQ:OABI) is scheduled to release its earnings data after the market closes on Thursday, May 9th. Analysts expect OmniAb to post earnings of ($0.17) per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

OmniAb (NASDAQ:OABI) last released its quarterly earnings data on Wednesday, March 20th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. OmniAb had a negative return on equity of 15.41% and a negative net margin of 148.16%. The company had revenue of $4.82 million for the quarter, compared to the consensus estimate of $6.94 million. On average, analysts expect OmniAb to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

OmniAb Stock Performance

Shares of NASDAQ:OABI opened at $4.71 on Tuesday. The stock has a 50-day simple moving average of $5.18 and a 200-day simple moving average of $5.29. The stock has a market capitalization of $551.68 million, a P/E ratio of -9.24 and a beta of -0.08. OmniAb has a 1 year low of $3.14 and a 1 year high of $6.72.

Analysts Set New Price Targets

Several equities research analysts have issued reports on OABI shares. Truist Financial reiterated a “buy” rating and set a $10.00 price objective on shares of OmniAb in a research note on Tuesday, March 26th. Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of OmniAb in a report on Friday, March 22nd. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research note on Thursday, March 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $7.00 target price on shares of OmniAb in a research note on Thursday, March 21st.

Insider Activity

In other news, CEO Matthew W. Foehr acquired 225,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were purchased at an average price of $5.19 per share, for a total transaction of $1,167,750.00. Following the acquisition, the chief executive officer now directly owns 2,908,803 shares of the company’s stock, valued at approximately $15,096,687.57. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other OmniAb news, CEO Matthew W. Foehr acquired 225,000 shares of the stock in a transaction on Friday, March 22nd. The stock was purchased at an average price of $5.19 per share, for a total transaction of $1,167,750.00. Following the purchase, the chief executive officer now directly owns 2,908,803 shares in the company, valued at $15,096,687.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kurt A. Gustafson sold 6,954 shares of OmniAb stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $5.27, for a total value of $36,647.58. Following the sale, the chief financial officer now owns 176,697 shares in the company, valued at $931,193.19. The disclosure for this sale can be found here. Insiders own 7.00% 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.