OmniAb (NASDAQ:OABI) Trading Up 2.8% – What’s Next?

OmniAb, Inc. (NASDAQ:OABI) shares traded up 2.8% on Friday . The company traded as high as $3.69 and last traded at $3.67. 58,374 shares were traded 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.

Wall Street Analyst Weigh In

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

OmniAb Stock Down 1.4 %

The stock has a market capitalization of $497.08 million, a price-to-earnings ratio of -5.68 and a beta of -0.14. The company has a fifty day moving average of $3.96 and a two-hundred day moving average of $4.14.

Institutional Inflows and Outflows

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