OmniAb (NASDAQ:OABI) Trading Down 6% – Here’s What Happened

OmniAb, Inc. (NASDAQ:OABI)’s stock price fell 6% during mid-day trading on Tuesday . The stock traded as low as $3.90 and last traded at $3.90. 163,841 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 504,546 shares. The stock had previously closed at $4.15.

Analyst Ratings Changes

Several brokerages have issued reports on OABI. Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of OmniAb in a report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and issued a $7.00 target price on shares of OmniAb in a report on Friday, August 16th. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of OmniAb in a report on Thursday, November 14th.

OmniAb Price Performance

The stock has a fifty day moving average price of $4.11 and a two-hundred day moving average price of $4.23. The company has a market cap of $550.76 million, a P/E ratio of -6.29 and a beta of -0.12.

Institutional Trading of OmniAb

A number of hedge funds have recently bought and sold shares of the business. Barclays PLC lifted its holdings in OmniAb by 321.5% during the third 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. State Street Corp lifted its holdings in OmniAb by 1.7% during the third quarter. State Street Corp now owns 2,031,676 shares of the company’s stock worth $8,594,000 after acquiring an additional 34,654 shares during the period. Murchinson Ltd. bought a new stake in OmniAb during the third quarter worth $4,230,000. PDT Partners LLC bought a new stake in OmniAb during the third quarter worth $123,000. Finally, Walleye Capital LLC bought a new stake in OmniAb during the third quarter worth $61,000. 72.08% of the stock is currently 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.