OmniAb (NASDAQ:OABI) Announces Earnings Results, Misses Expectations By $0.02 EPS

OmniAb (NASDAQ:OABI) posted its earnings results on Tuesday. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.02), reports. The firm had revenue of $4.17 million during the quarter, compared to the consensus estimate of $8.87 million. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%.

OmniAb Price Performance

Shares of NASDAQ:OABI opened at $4.07 on Friday. OmniAb has a 1 year low of $3.56 and a 1 year high of $6.72. The business’s 50-day moving average is $4.19 and its 200-day moving average is $4.28.

Institutional Investors Weigh In On OmniAb

Several large investors have recently added to or reduced their stakes in OABI. CWC Advisors LLC. acquired a new stake in shares of OmniAb during the 3rd quarter worth approximately $54,000. Walleye Capital LLC acquired a new stake in OmniAb in the third quarter worth $61,000. Bellevue Group AG bought a new stake in OmniAb in the first quarter valued at $62,000. Intech Investment Management LLC acquired a new position in shares of OmniAb during the third quarter valued at about $70,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of 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 purchasing an additional 8,909 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

OABI has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a research note on Thursday. Benchmark restated a “buy” rating and set a $8.00 price objective on shares of OmniAb in a research report on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $7.00 target price on shares of OmniAb in a report on Friday, August 16th.

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.