OmniAb (OABI) AI Stock Analysis

• Market Cap: $259.35M
• Dividend Yield: N/A
• Average Volume (3M): 618.86K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.12
• Revenue Growth: 27.07%
• EPS Growth: 6.74%
• Country: US
• Employees: 114
• Sector: Healthcare
• Sector Strength: 37
• Industry: Biotechnology
• EPS (TTM): -0.17
• Shares Outstanding: 122,335,335
• 10 Day Avg. Volume: 529,882
• 30 Day Avg. Volume: 618,858
• PEG Ratio: -1.02
• Price to Book (P/B): 0.76
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.78
• Enterprise Value/Market Cap: 0.95
• Enterprise Value/Revenue: 2.60
• Enterprise Value/Gross Profit: 25.81
• Enterprise Value/Ebitda: -1.09
• 1Y Price Target: $7.67
• Price Target Upside: 261.79% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8

• Rating: 58 Neutral
• Price Target: $2.50 ▲(17.92%Upside)

OmniAb's stock score reflects significant financial and valuation challenges, offset by positive technical momentum and strategic growth initiatives from the latest earnings call. While operational and financial risks remain, the strong technical indicators and strategic positioning provide some optimism.

Positive Factors

Product Launch

The new product launch, xPloration instrument, is seen as upside to 2025 estimates and is differentiated on its speed, scale, and its significant ease of use in antibody screening workflows.

Revenue Stream

The launch of the xPloration partner access program adds a new revenue stream, which can enhance the company's financial outlook.

Negative Factors

Cash Balance Concerns

The cash balance remains a concern despite the company's strong partner pipeline and lean operating model.

Revenue Decline

Q1 revenues were just below consensus largely driven by $2.0M in milestone revenues offset by a 30% decrease in service revenues following completion of certain small molecule ion channel programs.

OmniAb Business Overview & Revenue Model

Company Description

OmniAb, Inc., a biotechnology company, provides therapeutic antibody discovery technologies in the United States. The company's discovery platform provides industry partners access to the diverse antibody repertoires and screening technologies to enable discovery of next-generation therapeutics. Its OmniAb platform is the biological intelligence of proprietary transgenic animals, including OmniRat, OmniChicken, and OmniMouse that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates. The company's OmniFlic (transgenic rat) and OmniClic (transgenic chicken) address industry needs for bispecific antibody applications though a common light chain approach, and OmniTaur that features unique structural attributes of cow antibodies for complex targets. The company was founded in 2012 and is headquartered in Emeryville, California.

How the Company Makes Money

OmniAb makes money primarily through licensing agreements and collaborations with pharmaceutical and biotechnology companies. Its revenue model is centered on the use of its proprietary antibody discovery platform, which partners can leverage to develop new therapeutic candidates. Key revenue streams include upfront payments, milestone payments based on the achievement of specific development or regulatory goals, and royalties on sales of drugs developed using OmniAb's technology. Significant partnerships with leading biopharmaceutical companies contribute to its earnings by expanding the reach and application of its platform in the development of innovative therapies.

OmniAb Financial Statement Overview

Summary

OmniAb faces substantial financial challenges with declining revenues, negative profitability margins, and strained cash flows. Despite a relatively strong balance sheet with a high equity ratio, the negative cash flows and income statement performance highlight significant financial instability.

Income Statement

OmniAb's revenue has shown a declining trend with a significant revenue drop from 2022 to TTM 2025. Gross profit margin has weakened, and the company has negative net profit and EBIT margins, indicating operational challenges and lack of profitability. Despite a slight recovery in gross profit in TTM 2025, the overall financial health remains concerning with consistent net losses.

Balance Sheet

OmniAb maintains a strong equity base with a high equity ratio, indicating a solid balance sheet structure. However, the company has a significant amount of debt, resulting in a moderate debt-to-equity ratio. The return on equity is negative, reflecting the company's struggle to generate profits from its equity base.

Cash Flow

The company's cash flows are under pressure, with negative operating cash flow and free cash flow in the TTM period. The ratio of operating cash flow to net income is unfavorable due to negative earnings, signaling cash generation challenges. The company is reliant on financing activities to support its cash position.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	26.39M	34.16M	59.08M	34.75M	23.27M
Gross Profit	6.71M	34.16M	42.83M	19.78M	23.27M
EBITDA	-50.92M	-49.73M	-13.01M	-19.38M	-10.59M
Net Income	-62.03M	-50.62M	-22.33M	-27.04M	-17.56M
Balance Sheet
Total Assets	325.56M	375.23M	421.21M	304.46M	295.38M
Cash, Cash Equivalents and Short-Term Investments	59.43M	86.98M	88.27M	-13.85M	-2.59M
Total Debt	23.16M	25.56M	25.80M	13.85M	2.59M
Total Liabilities	37.94M	60.64M	79.84M	70.16M	59.84M
Stockholders Equity	287.62M	314.58M	341.37M	234.31M	235.54M
Cash Flow
Free Cash Flow	-41.54M	703.00K	-20.75M	-9.74M	1.87M
Operating Cash Flow	-39.66M	2.35M	-3.59M	-5.67M	3.62M
Investing Cash Flow	37.88M	-18.38M	-73.31M	-4.03M	-26.98M
Financing Cash Flow	13.02M	-892.00K	110.74M	9.70M	23.36M

OmniAb Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OABI, the sentiment is Positive. The current price of 2.12 is above the 20-day moving average (MA) of 1.95, above the 50-day MA of 1.69, and below the 200-day MA of 2.88, indicating a neutral trend. The MACD of 0.10 indicates Negative momentum. The RSI at 63.98 is Neutral, neither overbought nor oversold. The STOCH value of 72.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OABI.

OmniAb Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CMPX	60 Neutral	$436.97M	―	-41.31%	―	―	-7.93%
OABI	58 Neutral	$259.35M	―	-21.32%	―	27.07%	6.74%
XOMA	53 Neutral	$308.87M	―	-3.42%	―	638.41%	71.89%
Sector *	52 Neutral	$7.60B	0.11	-62.95%	2.07%	16.16%	0.31%
VSTM	44 Neutral	$290.68M	―	-2159.50%	―	―	14.39%
HUMA	42 Neutral	$414.17M	―	-257.38%	―	―	-17.92%
CADL	33 Underperform	$373.27M	―	-98.14%	―	―	-33.79%

OmniAb Corporate Events

OmniAb Elects Directors at Annual Shareholder Meeting

OmniAb, Inc. held its 2025 Annual Meeting of Shareholders on June 17, 2025, where shareholders voted on key proposals. During the meeting, two directors, Carolyn R. Bertozzi, Ph.D., and John Higgins, were elected as Class III directors for a three-year term. Additionally, the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified.

The most recent analyst rating on (OABI) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on OmniAb stock, see the OABI Stock Forecast page.