OmniAb should be up after IMVT-1402 data, says Truist

Truist keeps a Buy rating and $10 price target on OmniAb (OABI) but notes that the stock should be up following the initial phase 1 clinical trial data from Immunovant (IMVT) on IMVT-1402. Omniab is seen as a key beneficiary as they helped develop Batoclimab and IMVT-1402 using their technology and is entitled to receive royalties on sales, the analyst tells investors in a research note.