Leerink Partnrs Increases Earnings Estimates for OmniAb

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

A number of other brokerages have also commented on OABI. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a research report on Thursday, November 14th. Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of OmniAb in a report on Thursday, November 14th.

OmniAb Trading Down 1.9 %

Shares of OABI stock opened at $3.57 on Thursday. The firm has a market capitalization of $504.14 million, a price-to-earnings ratio of -5.76 and a beta of -0.10. The firm’s 50 day moving average is $3.89 and its 200-day moving average is $4.09. OmniAb has a 1 year low of $3.43 and a 1 year high of $6.72.

Hedge Funds Weigh In On OmniAb

Several institutional investors have recently modified their holdings of OABI. CWC Advisors LLC. bought a new position in OmniAb during the third quarter worth about $54,000. Walleye Capital LLC acquired a new position in shares of OmniAb in the 3rd quarter valued at approximately $61,000. Intech Investment Management LLC bought a new stake in OmniAb during the 3rd quarter worth approximately $70,000. China Universal Asset Management Co. Ltd. raised its holdings in OmniAb by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,727 shares of the company’s stock worth $96,000 after buying an additional 8,909 shares during the period. Finally, Palumbo Wealth Management LLC lifted its stake in OmniAb by 12.5% in the third quarter. Palumbo Wealth Management LLC now owns 24,640 shares of the company’s stock valued at $104,000 after buying an additional 2,744 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

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.