OmniAb (NASDAQ:OABI) Hits New 52-Week Low – Time to Sell?

OmniAb, Inc. (NASDAQ:OABI)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $3.54 and last traded at $3.59, with a volume of 749398 shares traded. The stock had previously closed at $3.76.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research note on Thursday, November 14th. Benchmark reissued a “buy” rating and set a $8.00 price target on shares of OmniAb in a research report on Thursday, November 14th.

OmniAb Stock Performance

The firm has a market cap of $494.26 million, a PE ratio of -5.65 and a beta of -0.14. The stock has a 50-day simple moving average of $4.01 and a two-hundred day simple moving average of $4.17.

Institutional Investors Weigh In On OmniAb

Several institutional investors and hedge funds have recently added to or reduced their stakes in OABI. Towerview LLC lifted its holdings in OmniAb by 114.0% in the second quarter. Towerview LLC now owns 535,000 shares of the company’s stock valued at $2,006,000 after acquiring an additional 285,000 shares during the period. Isthmus Partners LLC boosted its holdings in shares of OmniAb by 37.2% in the second quarter. Isthmus Partners LLC now owns 528,385 shares of the company’s stock worth $1,981,000 after buying an additional 143,387 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of OmniAb by 52.7% in the second quarter. American Century Companies Inc. now owns 110,036 shares of the company’s stock worth $413,000 after buying an additional 37,963 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in OmniAb by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,012,216 shares of the company’s stock valued at $11,296,000 after buying an additional 194,835 shares during the last quarter. Finally, Sei Investments Co. raised its position in OmniAb by 11.0% in the second quarter. Sei Investments Co. now owns 29,024 shares of the company’s stock worth $109,000 after acquiring an additional 2,888 shares during the period. Hedge funds and other 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.