OmniAb, Inc. Expected to Earn FY2024 Earnings of ($0.41) Per Share (NASDAQ:OABI)

OmniAb, Inc. (NASDAQ:OABI) – HC Wainwright dropped their FY2024 earnings per share (EPS) estimates for shares of OmniAb in a note issued to investors on Thursday, March 21st. HC Wainwright analyst J. Pantginis now expects that the company will post earnings per share of ($0.41) for the year, down from their prior forecast of ($0.39). HC Wainwright currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for OmniAb’s current full-year earnings is ($0.53) per share. HC Wainwright also issued estimates for OmniAb’s Q4 2024 earnings at ($0.09) EPS and FY2028 earnings at ($0.03) EPS.

Other equities analysts have also issued reports about the stock. Benchmark restated a “buy” rating and issued a $8.00 price objective on shares of OmniAb in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of OmniAb in a research note on Thursday, March 21st.

OmniAb Price Performance

NASDAQ OABI opened at $5.31 on Monday. OmniAb has a 12 month low of $3.14 and a 12 month high of $6.72. The stock has a market capitalization of $617.23 million, a P/E ratio of -10.41 and a beta of -0.16. The firm’s 50-day moving average is $5.67 and its two-hundred day moving average is $5.33.

Insider Buying and Selling

In other OmniAb news, CEO Matthew W. Foehr purchased 225,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was acquired at an average price of $5.19 per share, for a total transaction of $1,167,750.00. Following the completion of the purchase, the chief executive officer now directly owns 2,908,803 shares in the company, valued at approximately $15,096,687.57. The purchase was disclosed in a filing with the SEC, which is available through this link. 7.00% of the stock is owned by insiders.

Institutional Investors Weigh In On OmniAb

A number of hedge funds have recently bought and sold shares of OABI. Towerview LLC raised its holdings in OmniAb by 29.4% in the third quarter. Towerview LLC now owns 110,000 shares of the company’s stock valued at $571,000 after acquiring an additional 25,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of OmniAb in the 3rd quarter valued at $1,191,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of OmniAb during the 3rd quarter worth $182,000. Principal Financial Group Inc. purchased a new stake in shares of OmniAb during the 2nd quarter worth $155,000. Finally, Deutsche Bank AG grew its stake in shares of OmniAb by 1.1% during the third quarter. Deutsche Bank AG now owns 580,969 shares of the company’s stock worth $3,015,000 after purchasing an additional 6,325 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

OmniAb Company Profile

OmniAb, Inc, a biotechnology company, engages in the provision of therapeutic antibody discovery technologies in the United States. The company's discovery platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts. 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.