Leerink Partnrs Brokers Raise Earnings Estimates for OmniAb

OmniAb, Inc. (NASDAQ:OABI) – Investment analysts at Leerink Partnrs lifted their FY2024 earnings per share (EPS) estimates for shares of OmniAb in a report released on Tuesday, January 7th. Leerink Partnrs analyst P. Souda now anticipates that the company will post earnings per share of ($0.59) for the year, up from their previous estimate of ($0.62). The consensus estimate for OmniAb’s current full-year earnings is ($0.62) per share.

Several other brokerages have also recently weighed in on OABI. Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of OmniAb in a research report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of OmniAb in a report on Thursday, November 14th.

OmniAb Stock Down 3.6 %

Shares of OABI stock opened at $3.44 on Thursday. OmniAb has a 52-week low of $3.41 and a 52-week high of $6.55. The stock has a market cap of $485.78 million, a PE ratio of -5.55 and a beta of -0.10. The business has a 50-day simple moving average of $3.89 and a 200-day simple moving average of $4.09.

Institutional Trading of OmniAb

A number of institutional investors and hedge funds have recently made changes to their positions in OABI. Barclays PLC increased its stake in shares of OmniAb by 321.5% during the third quarter. Barclays PLC now owns 143,215 shares of the company’s stock worth $606,000 after purchasing an additional 109,236 shares in the last quarter. State Street Corp increased its stake in OmniAb by 1.7% during the 3rd quarter. State Street Corp now owns 2,031,676 shares of the company’s stock worth $8,594,000 after buying an additional 34,654 shares in the last quarter. Murchinson Ltd. acquired a new position in shares of OmniAb during the third quarter valued at approximately $4,230,000. PDT Partners LLC acquired a new position in shares of OmniAb during the third quarter valued at approximately $123,000. Finally, Walleye Capital LLC purchased a new position in shares of OmniAb in the third quarter valued at approximately $61,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

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.