A significant driver of top-line growth: OmniAb Inc (OABI)

OmniAb Inc (NASDAQ: OABI) stock jumped 3.14% on Friday to $3.94 against a previous-day closing price of $3.82. With 0.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.59 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $3.9900 whereas the lowest price it dropped to was $3.7900. The 52-week range on OABI shows that it touched its highest point at $10.50 and its lowest point at $1.91 during that stretch. It currently has a 1-year price target of $10.25.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OABI was up-trending over the past week, with a rise of 4.79%, but this was up by 21.60% over a month. Three-month performance dropped to -56.22% while six-month performance fell -60.95%. A look at the trailing 12-month EPS for OABI yields -0.31 with Next year EPS estimates of -0.20.

Float and Shares Shorts:

At present, 98.53 million OABI shares are outstanding with a float of 77.12 million shares on hand for trading.


Institutional Ownership:

Other institutions hold 16.08% of OABI, in contrast to 13.29% held by mutual funds. Shares owned by individuals account for 10.46%. As the largest shareholder in OABI with 2.09% of the stake, Chicago Capital LLC holds 2,400,717 shares worth 2,400,717. A second-largest stockholder of OABI, St. Denis J. Villere & Co. LLC, holds 2,293,031 shares, controlling over 2.00% of the firm’s shares. Polar Asset Management Partners, is the third largest shareholder in OABI, holding 1,549,998 shares or 1.35% stake. With a 2.10% stake in OABI, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,406,909 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.49% of OABI stock, is the second-largest Mutual Fund holder. It holds 1,712,897 shares valued at 6.17 million. Vanguard Extended Market Index Fu holds 1.17% of the stake in OABI, owning 1,340,564 shares worth 4.83 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OABI since 4 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With OABI analysts setting a high price target of $13.00 and a low target of $6.00, the average target price over the next 12 months is $10.25. Based on these targets, OABI could surge 229.95% to reach the target high and rise by 52.28% to reach the target low. Reaching the average price target will result in a growth of 160.15% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. Analysts have provided yearly estimates in a range of $0.09 being high and -$0.46 being low. For OABI, this leads to a yearly average estimate of -$0.16. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. OmniAb Inc surprised analysts by -$0.20 when it reported -$0.24 EPS against a consensus estimate of -$0.04. Based on analyst estimates, the high estimate for the next quarter is $0.13 and the low estimate is -$0.16. The average estimate for the next quarter is thus $0.01.

Summary of Insider Activity:

Insiders traded OABI stock several times over the past three months with 24 Buys and 4 Sells. In these transactions, 31,478,931 shares were bought while 15,852,513 shares were sold. The number of buy transactions has increased to 24 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 31,478,931 while 15,852,513 shares were sold.

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