OmniAb (OABI) Scheduled to Post Earnings on Thursday

OmniAb (NASDAQ:OABI) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, May 9th. Analysts expect OmniAb to post earnings of ($0.17) per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

OmniAb (NASDAQ:OABI) last announced its earnings results on Wednesday, March 20th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The firm had revenue of $4.82 million for the quarter, compared to analyst estimates of $6.94 million. OmniAb had a negative net margin of 148.16% and a negative return on equity of 15.41%. On average, analysts expect OmniAb to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

OmniAb Trading Up 2.7 %

Shares of OABI opened at $4.56 on Thursday. The firm’s 50-day moving average price is $5.25 and its 200-day moving average price is $5.30. The firm has a market capitalization of $534.11 million, a price-to-earnings ratio of -8.94 and a beta of -0.18. OmniAb has a 1-year low of $3.14 and a 1-year high of $6.72.

Insiders Place Their Bets

In other news, CEO Matthew W. Foehr bought 225,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was acquired at an average cost of $5.19 per share, with a total value of $1,167,750.00. Following the completion of the acquisition, the chief executive officer now owns 2,908,803 shares of the company’s stock, valued at $15,096,687.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Matthew W. Foehr bought 225,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was acquired at an average cost of $5.19 per share, with a total value of $1,167,750.00. Following the completion of the acquisition, the chief executive officer now owns 2,908,803 shares of the company’s stock, valued at $15,096,687.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kurt A. Gustafson sold 11,849 shares of OmniAb stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $5.46, for a total transaction of $64,695.54. Following the completion of the transaction, the chief financial officer now directly owns 170,110 shares of the company’s stock, valued at $928,800.60. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of OmniAb in a research note on Thursday, March 21st. Royal Bank of Canada reissued an “outperform” rating and set a $7.00 price target on shares of OmniAb in a research report on Thursday, March 21st. Benchmark reissued a “buy” rating and set a $8.00 price target on shares of OmniAb in a research report on Friday, March 22nd. Finally, Truist Financial reissued a “buy” rating and set a $10.00 price target on shares of OmniAb in a research report on Tuesday, March 26th.

About OmniAb

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.