OmniAb (NASDAQ:OABI) Stock Price Up 2.8% – Should You Buy?

OmniAb, Inc. (NASDAQ:OABI)’s share price shot up 2.8% on Friday . The company traded as high as $3.69 and last traded at $3.67. 58,374 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 502,255 shares. The stock had previously closed at $3.57.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a report on Thursday, November 14th. Benchmark reissued a “buy” rating and set a $8.00 price objective on shares of OmniAb in a report on Thursday, November 14th.

OmniAb Price Performance

The company’s fifty day moving average price is $3.95 and its 200 day moving average price is $4.13. The company has a market cap of $506.97 million, a PE ratio of -5.79 and a beta of -0.14.

Hedge Funds Weigh In On OmniAb

Institutional investors have recently modified their holdings of the business. Isthmus Partners LLC boosted its position in OmniAb by 37.2% in the second quarter. Isthmus Partners LLC now owns 528,385 shares of the company’s stock worth $1,981,000 after purchasing an additional 143,387 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of OmniAb by 52.7% in the 2nd quarter. American Century Companies Inc. now owns 110,036 shares of the company’s stock worth $413,000 after buying an additional 37,963 shares during the last quarter. Dimensional Fund Advisors LP grew its position in OmniAb by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,012,216 shares of the company’s stock valued at $11,296,000 after buying an additional 194,835 shares during the period. Sei Investments Co. increased its holdings in OmniAb by 11.0% during the second quarter. Sei Investments Co. now owns 29,024 shares of the company’s stock worth $109,000 after buying an additional 2,888 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in OmniAb during the second quarter worth about $449,000. 72.08% of the stock is owned by 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.