In yesterday’s Wall Street session, OmniAb Inc (NASDAQ:OABI) shares traded at $3.58, down -1.38% from the previous session.
As of this writing, 5 analysts cover OmniAb Inc (NASDAQ:OABI). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $13.00 and a low of $6.00, we find $10.00. Given the previous closing price of $3.63, this indicates a potential upside of 175.48 percent. OABI stock price is now -7.89% away from the 50-day moving average and -50.54% away from the 200-day moving average. The market capitalization of the company currently stands at $420.08M.
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There are 0 analysts who have given it a hold rating, whereas 5 have given it a buy rating. Brokers who have rated the stock have averaged $10.00 as their price target over the next twelve months.
With the price target of $10, Cowen recently initiated with Outperform rating for OmniAb Inc (NASDAQ: OABI). On February 13, 2023, H.C. Wainwright recently initiated its ‘Buy’ rating on the stock quoting a target price of $11, while ‘Truist’ rates the stock as ‘Buy’.
In other news, FOEHR MATTHEW W, President & CEO bought 150,000 shares of the company’s stock on Dec 12. The stock was bought for $564,765 at an average price of $3.77. Upon completion of the transaction, the President & CEO now directly owns 1,838,084 shares in the company, valued at $6.58 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 06, Director Cochran Jennifer R. bought 22,250 shares of the business’s stock. A total of $83,526 was incurred on buying the stock at an average price of $3.75. This leaves the insider owning 77,476 shares of the company worth $0.28 million. Insiders disposed of 15,897,284 shares of company stock worth roughly $56.91 million over the past 1 year. A total of 5.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OABI stock. A new stake in OmniAb Inc shares was purchased by RUBRIC CAPITAL MANAGEMENT LP during the first quarter worth $8,052,000. FIRST SABREPOINT CAPITAL MANAGEMENT LP invested $5,191,000 in shares of OABI during the first quarter. In the first quarter, 1492 CAPITAL MANAGEMENT LLC acquired a new stake in OmniAb Inc valued at approximately $1,588,000. TLS ADVISORS LLC acquired a new stake in OABI for approximately $1,384,000. MURCHINSON LTD. purchased a new stake in OABI valued at around $1,341,000 in the second quarter. In total, there are 161 active investors with 22.30% ownership of the company’s stock.
Wednesday morning saw OmniAb Inc (NASDAQ: OABI) opened at $3.6100. During the past 12 months, OmniAb Inc has had a low of $1.91 and a high of $10.50. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 0.60, and a quick ratio of 0.60. The fifty day moving average price for OABI is $3.8865 and a two-hundred day moving average price translates $7.2464 for the stock.
The latest earnings results from OmniAb Inc (NASDAQ: OABI) was released for Sep, 2022. For the current quarter, analysts expect OABI to generate $25.71M in revenue.
OmniAb Inc(OABI) Company Profile
OmniAb, Inc., a biotechnology company, provides therapeutic antibody discovery technologies in the United States. The company’s discovery platform provides industry partners access to the diverse antibody repertoires and screening technologies to enable discovery of next-generation therapeutics. Its OmniAb platform is the biological intelligence of proprietary transgenic animals, including OmniRat, OmniChicken, and OmniMouse that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates. The company’s OmniFlic (transgenic rat) and OmniClic (transgenic chicken) address industry needs for bispecific antibody applications though a common light chain approach, and OmniTaur that features unique structural attributes of cow antibodies for complex targets. The company was founded in 2012 and is headquartered in Emeryville, California.
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