Private Management Group Inc. Has $16.29 Million Stock Position in OmniAb, Inc. (NASDAQ:OABI)

Private Management Group Inc. lowered its holdings in shares of OmniAb, Inc. (NASDAQ:OABI) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,639,651 shares of the company’s stock after selling 32,641 shares during the period. Private Management Group Inc. owned about 2.27% of OmniAb worth $16,287,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Chicago Capital LLC boosted its stake in OmniAb by 0.7% during the third quarter. Chicago Capital LLC now owns 3,195,598 shares of the company’s stock worth $16,585,000 after buying an additional 22,893 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of OmniAb by 2.9% during the third quarter. William Blair Investment Management LLC now owns 2,862,656 shares of the company’s stock valued at $14,857,000 after acquiring an additional 80,906 shares during the period. Rubric Capital Management LP lifted its holdings in shares of OmniAb by 306.0% during the third quarter. Rubric Capital Management LP now owns 2,850,588 shares of the company’s stock valued at $14,795,000 after acquiring an additional 2,148,535 shares during the period. Woodstock Corp lifted its holdings in shares of OmniAb by 8.3% during the fourth quarter. Woodstock Corp now owns 743,002 shares of the company’s stock valued at $4,584,000 after acquiring an additional 57,212 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of OmniAb by 1.1% during the third quarter. Deutsche Bank AG now owns 580,969 shares of the company’s stock valued at $3,015,000 after acquiring an additional 6,325 shares during the period. Institutional investors and hedge funds own 72.08% of the company’s stock.

OmniAb Trading Down 0.9 %

Shares of OmniAb stock traded down $0.04 during trading on Tuesday, reaching $4.64. The company’s stock had a trading volume of 367,629 shares, compared to its average volume of 466,927. The stock has a 50-day moving average price of $5.36 and a two-hundred day moving average price of $5.32. OmniAb, Inc. has a one year low of $3.14 and a one year high of $6.72. The stock has a market capitalization of $543.46 million, a P/E ratio of -9.10 and a beta of -0.18.

OmniAb (NASDAQ:OABI) last announced its quarterly earnings data on Wednesday, March 20th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. The firm had revenue of $4.82 million during the quarter, compared to analysts’ expectations of $6.94 million. OmniAb had a negative return on equity of 15.41% and a negative net margin of 148.16%. As a group, sell-side analysts anticipate that OmniAb, Inc. will post -0.58 EPS for the current fiscal year.

Insider Transactions at OmniAb

In other news, CFO Kurt A. Gustafson sold 11,849 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $5.46, for a total transaction of $64,695.54. Following the completion of the transaction, the chief financial officer now directly owns 170,110 shares in the company, valued at approximately $928,800.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Kurt A. Gustafson sold 6,954 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $5.27, for a total value of $36,647.58. Following the completion of the transaction, the chief financial officer now directly owns 176,697 shares in the company, valued at approximately $931,193.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kurt A. Gustafson sold 11,849 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $5.46, for a total value of $64,695.54. Following the completion of the transaction, the chief financial officer now owns 170,110 shares of the company’s stock, valued at $928,800.60. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OABI shares. Benchmark reissued a “buy” rating and set a $8.00 price objective on shares of OmniAb in a report on Friday, March 22nd. HC Wainwright reissued a “buy” rating and set a $11.00 price objective on shares of OmniAb in a report on Thursday, March 21st. Truist Financial reissued a “buy” rating and set a $10.00 price objective on shares of OmniAb in a report on Tuesday, March 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $7.00 price target on shares of OmniAb in a report on Thursday, March 21st.

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.