OmniAb (NASDAQ:OABI) Hits New 52-Week Low – What’s Next?

OmniAb, Inc. (NASDAQ:OABI) reached a new 52-week low on Saturday . The stock traded as low as $3.41 and last traded at $3.44, with a volume of 475446 shares trading hands. The stock had previously closed at $3.57.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on OABI shares. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research note on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $8.00 target price on shares of OmniAb in a research note on Thursday, November 14th.

OmniAb Stock Down 3.6 %

The business has a 50 day simple moving average of $3.87 and a 200-day simple moving average of $4.09. The company has a market capitalization of $485.78 million, a P/E ratio of -5.55 and a beta of -0.10.

Institutional Investors Weigh In On OmniAb

Institutional investors have recently bought and sold shares of the stock. Barclays PLC grew its stake in shares of OmniAb by 321.5% in the 3rd quarter. Barclays PLC now owns 143,215 shares of the company’s stock worth $606,000 after purchasing an additional 109,236 shares during the last quarter. State Street Corp increased its holdings in shares of OmniAb by 1.7% in the 3rd quarter. State Street Corp now owns 2,031,676 shares of the company’s stock valued at $8,594,000 after purchasing an additional 34,654 shares during the period. Murchinson Ltd. acquired a new stake in shares of OmniAb during the 3rd quarter valued at $4,230,000. PDT Partners LLC purchased a new stake in shares of OmniAb during the third quarter worth $123,000. Finally, Walleye Capital LLC acquired a new stake in shares of OmniAb during the 3rd quarter valued at about $61,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

OmniAb Company Profile

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.