OmniAb (NASDAQ:OABI) Hits New 1-Year Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OABI. Benchmark reiterated a “buy” rating and issued a $8.00 price objective on shares of OmniAb in a research note on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of OmniAb in a research note on Thursday, November 14th.

OmniAb Trading Down 3.6 %

The business’s 50 day moving average price is $3.89 and its two-hundred day moving average price is $4.09. The company has a market capitalization of $485.78 million, a price-to-earnings ratio of -5.55 and a beta of -0.10.

Institutional Trading of OmniAb

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