OmniAb (OABI) to Release Quarterly Earnings on Thursday

OmniAb (NASDAQ:OABI) is scheduled to issue its quarterly earnings data after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.17) per share for the quarter. Persons interested in registering for 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, topping the consensus estimate of ($0.17) by $0.03. OmniAb had a negative return on equity of 15.41% and a negative net margin of 148.16%. The business had revenue of $4.82 million during the quarter, compared to the consensus estimate of $6.94 million. On average, analysts expect OmniAb to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

OmniAb Stock Down 2.5 %

OABI opened at $4.59 on Wednesday. The company has a 50-day moving average price of $5.15 and a 200 day moving average price of $5.29. The company has a market cap of $537.61 million, a PE ratio of -9.00 and a beta of -0.08. OmniAb has a twelve month low of $3.14 and a twelve month high of $6.72.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

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.