OmniAb (NASDAQ:OABI) Reaches New 12-Month Low – What’s Next?

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of OmniAb in a research note on Thursday, November 14th. Benchmark reissued a “buy” rating and issued a $8.00 price target on shares of OmniAb in a report on Thursday, November 14th.

OmniAb Stock Down 3.6 %

The stock has a market capitalization of $485.78 million, a PE ratio of -5.55 and a beta of -0.10. The stock’s 50 day moving average price is $3.89 and its 200-day moving average price is $4.09.

Institutional Investors Weigh In On OmniAb

Several large investors have recently bought and sold shares of OABI. American Century Companies Inc. lifted its position in OmniAb by 52.7% in the second quarter. American Century Companies Inc. now owns 110,036 shares of the company’s stock worth $413,000 after buying an additional 37,963 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in OmniAb by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,012,216 shares of the company’s stock worth $11,296,000 after purchasing an additional 194,835 shares in the last quarter. Sei Investments Co. grew its holdings in OmniAb by 11.0% during the 2nd quarter. Sei Investments Co. now owns 29,024 shares of the company’s stock worth $109,000 after acquiring an additional 2,888 shares in the last quarter. Squarepoint Ops LLC bought a new stake in OmniAb during the 2nd quarter valued at $449,000. Finally, The Manufacturers Life Insurance Company bought a new position in OmniAb in the second quarter worth about $147,000. Institutional investors own 72.08% of the company’s stock.

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.