FY2024 EPS Estimates for OmniAb, Inc. Lowered by Analyst (NASDAQ:OABI)

OmniAb, Inc. (NASDAQ:OABI) – Investment analysts at Leerink Partnrs dropped their FY2024 EPS estimates for shares of OmniAb in a research note issued to investors on Thursday, July 18th. Leerink Partnrs analyst P. Souda now expects that the company will earn ($0.67) per share for the year, down from their previous estimate of ($0.66). The consensus estimate for OmniAb’s current full-year earnings is ($0.66) per share. Leerink Partnrs also issued estimates for OmniAb’s Q3 2025 earnings at ($0.15) EPS and FY2025 earnings at ($0.59) EPS.

OmniAb (NASDAQ:OABI) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). OmniAb had a negative net margin of 301.62% and a negative return on equity of 19.93%. The company had revenue of $3.80 million for the quarter, compared to analysts’ expectations of $6.00 million. During the same period last year, the business earned ($0.06) earnings per share.

OABI has been the subject of a number of other reports. Benchmark reiterated a “buy” rating and set a $8.00 target price on shares of OmniAb in a research report on Tuesday, May 14th. Truist Financial reiterated a “buy” rating and set a $10.00 target price on shares of OmniAb in a research report on Tuesday, March 26th.

OmniAb Stock Performance

NASDAQ OABI opened at $4.73 on Monday. The company has a market capitalization of $556.30 million, a P/E ratio of -7.39 and a beta of -0.12. OmniAb has a one year low of $3.56 and a one year high of $6.72. The stock has a 50 day moving average price of $4.27 and a 200-day moving average price of $5.01.

Insider Buying and Selling

In related news, CEO Matthew W. Foehr purchased 240,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average cost of $4.42 per share, for a total transaction of $1,060,800.00. Following the completion of the transaction, the chief executive officer now directly owns 3,536,665 shares in the company, valued at $15,632,059.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of OmniAb

Several institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. purchased a new position in shares of OmniAb during the fourth quarter valued at $38,000. Hartline Investment Corp purchased a new position in shares of OmniAb during the first quarter valued at $54,000. Bellevue Group AG purchased a new position in shares of OmniAb during the first quarter valued at $62,000. Cape Investment Advisory Inc. purchased a new position in shares of OmniAb during the fourth quarter valued at $64,000. Finally, Catalina Capital Group LLC purchased a new position in shares of OmniAb during the first quarter valued at $69,000. 72.08% of the stock is currently owned by institutional investors.

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.