FY2027 Earnings Forecast for OmniAb Issued By HC Wainwright

OmniAb, Inc. (NASDAQ:OABI) – HC Wainwright dropped their FY2027 earnings per share (EPS) estimates for OmniAb in a research report issued to clients and investors on Friday, October 30th. HC Wainwright analyst J. Pantginis now expects that the company will post earnings per share of ($0.24) for the year, down from their previous forecast of ($0.18). HC Wainwright has a “Buy” rating and a $11.00 price target on the stock. The consensus estimate for OmniAb’s current full-year earnings is ($0.35) per share. HC Wainwright also issued estimates for OmniAb’s FY2029 earnings at ($0.01) EPS.

OABI has been the subject of several other reports. Weiss Ratings upgraded shares of OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Leerink Partners raised their price target on shares of OmniAb from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, October 7th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

OmniAb Price Performance

Shares of NASDAQ OABI opened at $5.09 on Tuesday. The stock has a market capitalization of $736.93 million, a price-to-earnings ratio of -14.97 and a beta of 0.60. The firm’s 50 day simple moving average is $4.67 and its 200-day simple moving average is $2.72. OmniAb has a 12 month low of $1.30 and a 12 month high of $5.43.

OmniAb (NASDAQ:OABI) last announced its quarterly earnings results on Friday, October 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. OmniAb had a negative return on equity of 16.59% and a negative net margin of 115.12%. The company had revenue of $3.99 million during the quarter, compared to the consensus estimate of $3.49 million.

Institutional Trading of OmniAb

A number of institutional investors and hedge funds have recently modified their holdings of OABI. Whitefort Capital Management LP acquired a new position in shares of OmniAb during the 2nd quarter worth about $25,211,699. BlackRock Inc. acquired a new stake in OmniAb in the 2nd quarter worth about $21,888,000. Rice Hall James & Associates LLC acquired a new stake in OmniAb in the 2nd quarter worth about $6,422,000. State Street Corp boosted its holdings in OmniAb by 3.2% in the 2nd quarter. State Street Corp now owns 2,133,549 shares of the company’s stock worth $5,249,000 after buying an additional 66,406 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in OmniAb during the 2nd quarter worth approximately $2,331,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

About OmniAb

OmniAb, Inc is a biotechnology company that develops and licenses antibody discovery technologies for use in drug research and development. Its platform is designed to help biopharmaceutical companies generate fully human and species-diverse antibodies that can be evaluated as potential treatments for a range of diseases.

The company’s technology portfolio includes genetically engineered animal platforms, such as OmniRat, OmniMouse and OmniChicken, which are used to produce antibody candidates against challenging biological targets.