OmniAb (NASDAQ:OABI) Stock Price Up 2.8% – Still a Buy?

OmniAb, Inc. (NASDAQ:OABI)’s share price shot up 2.8% during mid-day trading on Friday . The stock 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $11.00 target price on shares of OmniAb in a research report on Thursday, November 14th. Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of OmniAb in a report on Thursday, November 14th.

OmniAb Price Performance

The firm has a market capitalization of $506.97 million, a P/E ratio of -5.79 and a beta of -0.14. The company has a fifty day moving average of $3.95 and a 200 day moving average of $4.13.

Institutional Investors Weigh In On OmniAb

Institutional investors have recently modified their holdings of the company. CWC Advisors LLC. acquired a new position in OmniAb in the third quarter valued at $54,000. Walleye Capital LLC bought a new position in shares of OmniAb in the 3rd quarter worth about $61,000. Intech Investment Management LLC acquired a new position in shares of OmniAb in the 3rd quarter valued at about $70,000. 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 valued at $96,000 after purchasing an additional 8,909 shares in the last quarter. Finally, Palumbo Wealth Management LLC grew its stake 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 purchasing an additional 2,744 shares during the period. 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.