OmniAb (NASDAQ:OABI) Shares Up 0.5% – Time to Buy?

Shares of OmniAb, Inc. (NASDAQ:OABI) shot up 0.5% during mid-day trading on Thursday . The stock traded as high as $1.86 and last traded at $1.86. 550,259 shares traded hands during trading, an increase of 71% from the average session volume of 321,740 shares. The stock had previously closed at $1.85.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of OmniAb in a research note on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.67.

OmniAb Stock Up 0.5%

The stock has a 50 day moving average of $1.93 and a 200 day moving average of $1.79. The firm has a market cap of $267.77 million, a price-to-earnings ratio of -3.21 and a beta of 0.13.

OmniAb (NASDAQ:OABI) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $2.24 million for the quarter, compared to the consensus estimate of $5.64 million. OmniAb had a negative net margin of 301.83% and a negative return on equity of 23.14%. As a group, analysts predict that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

Insider Activity at OmniAb

In other OmniAb news, CEO Matthew W. Foehr sold 13,666 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $1.96, for a total transaction of $26,785.36. Following the completion of the transaction, the chief executive officer directly owned 4,360,083 shares in the company, valued at $8,545,762.68. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kurt A. Gustafson sold 23,922 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $1.96, for a total value of $46,887.12. Following the completion of the sale, the chief financial officer directly owned 252,688 shares in the company, valued at approximately $495,268.48. This represents a 8.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 45,632 shares of company stock valued at $89,439 over the last three months. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its position in OmniAb by 214.4% during the 2nd quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock worth $25,000 after purchasing an additional 9,716 shares in the last quarter. AQR Capital Management LLC acquired a new position in OmniAb in the 1st quarter worth about $25,000. BNP Paribas Financial Markets raised its position in OmniAb by 92.5% in the third quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company’s stock valued at $35,000 after purchasing an additional 10,438 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of OmniAb by 111.5% during the second quarter. Cerity Partners LLC now owns 22,612 shares of the company’s stock valued at $39,000 after purchasing an additional 11,919 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of OmniAb by 96.6% during the fourth quarter. SG Americas Securities LLC now owns 23,141 shares of the company’s stock worth $43,000 after purchasing an additional 11,369 shares during the last quarter. Institutional investors and hedge funds 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.