OmniAb (NASDAQ:OABI) Hits New 52-Week Low – Here’s What Happened

OmniAb, Inc. (NASDAQ:OABI)’s share price hit a new 52-week low during mid-day trading on Saturday . The company traded as low as $3.41 and last traded at $3.44, with a volume of 475446 shares trading hands. The stock had previously closed at $3.57.

Analysts Set New Price Targets

A number of research firms recently commented on OABI. Benchmark reaffirmed a “buy” rating and issued a $8.00 price target on shares of OmniAb in a report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of OmniAb in a report on Thursday, November 14th.

OmniAb Trading Down 3.6 %

The firm has a 50 day moving average price of $3.87 and a 200-day moving average price of $4.09. The firm has a market cap of $485.78 million, a PE ratio of -5.55 and a beta of -0.10.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Atria Investments Inc purchased a new position in shares of OmniAb during the 3rd quarter worth approximately $148,000. FMR LLC lifted its position in shares of OmniAb by 10.6% in the third quarter. FMR LLC now owns 138,813 shares of the company’s stock valued at $587,000 after acquiring an additional 13,324 shares in the last quarter. Murchinson Ltd. acquired a new stake in shares of OmniAb during the 3rd quarter worth about $4,230,000. Barclays PLC grew its stake in OmniAb by 321.5% in the 3rd quarter. Barclays PLC now owns 143,215 shares of the company’s stock worth $606,000 after acquiring an additional 109,236 shares during the period. Finally, State Street Corp grew its position in shares of OmniAb by 1.7% in the third quarter. State Street Corp now owns 2,031,676 shares of the company’s stock valued at $8,594,000 after purchasing an additional 34,654 shares during the period. Hedge funds and other institutional investors own 72.08% of the company’s stock.

About OmniAb

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.