OmniAb (NASDAQ:OABI) Sets New 12-Month High – Should You Buy?

OmniAb, Inc. (NASDAQ:OABI)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $3.95 and last traded at $4.0170, with a volume of 6433629 shares traded. The stock had previously closed at $3.38.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of OmniAb from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, OmniAb has a consensus rating of “Hold”.

OmniAb Price Performance

The company has a 50-day simple moving average of $2.35 and a 200-day simple moving average of $2.01. The stock has a market cap of $590.70 million, a PE ratio of -11.15 and a beta of 0.45.

OmniAb (NASDAQ:OABI) last released its earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The company had revenue of $13.41 million during the quarter, compared to the consensus estimate of $4.69 million. OmniAb had a negative return on equity of 16.59% and a negative net margin of 115.12%. On average, equities analysts expect that OmniAb, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Trading of OmniAb

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new position in OmniAb during the second quarter worth about $368,000. ADAR1 Capital Management LLC acquired a new stake in shares of OmniAb during the 2nd quarter valued at approximately $2,331,000. Whitefort Capital Management LP acquired a new stake in shares of OmniAb during the 2nd quarter valued at approximately $25,211,699,000. Canada Pension Plan Investment Board purchased a new stake in shares of OmniAb during the 2nd quarter worth approximately $37,000. Finally, Legal & General Group Plc acquired a new stake in shares of OmniAb in the 2nd quarter worth approximately $28,000. Hedge funds and other 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.