OmniAb (NASDAQ:OABI) Shares Down 6% – Should You Sell?

by · The Cerbat Gem

OmniAb, Inc. (NASDAQ:OABI – Get Free Report)’s share price dropped 6% during trading on Tuesday . The stock traded as low as $3.90 and last traded at $3.90. Approximately 163,841 shares were traded during trading, a decline of 68% from the average daily volume of 504,546 shares. The stock had previously closed at $4.15.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of OmniAb in a research note on Friday, August 16th. Benchmark reaffirmed a “buy” rating and issued a $8.00 price target on shares of OmniAb in a research report on Thursday, November 14th. Finally, HC Wainwright reissued a “buy” rating and set a $11.00 price objective on shares of OmniAb in a report on Thursday, November 14th.

Read Our Latest Stock Analysis on OABI

OmniAb Stock Down 7.5 %

The firm has a market capitalization of $542.27 million, a PE ratio of -6.69 and a beta of -0.12. The company’s 50-day simple moving average is $4.13 and its 200 day simple moving average is $4.24.

Institutional Investors Weigh In On OmniAb

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWC Advisors LLC. acquired a new position in shares of OmniAb during the third quarter worth $54,000. Walleye Capital LLC acquired a new position in OmniAb during the 3rd quarter valued at about $61,000. Intech Investment Management LLC acquired a new position in OmniAb during the 3rd quarter valued at about $70,000. China Universal Asset Management Co. Ltd. raised its stake in 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 buying an additional 8,909 shares during the last quarter. Finally, Palumbo Wealth Management LLC boosted its holdings in OmniAb by 12.5% in the third quarter. Palumbo Wealth Management LLC now owns 24,640 shares of the company’s stock worth $104,000 after acquiring an additional 2,744 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

OmniAb Company Profile

(Get Free Report)

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.

Recommended Stories