ADAR1 Capital Management LLC Lowers Stock Position in OmniAb, Inc. (NASDAQ:OABI)

ADAR1 Capital Management LLC trimmed its position in OmniAb, Inc. (NASDAQ:OABI - Free Report) by 79.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 278,108 shares of the company's stock after selling 1,059,194 shares during the quarter. ADAR1 Capital Management LLC owned approximately 0.20% of OmniAb worth $985,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC lifted its holdings in OmniAb by 16.5% during the 4th quarter. SG Americas Securities LLC now owns 40,609 shares of the company's stock worth $144,000 after buying an additional 5,751 shares during the last quarter. Isthmus Partners LLC raised its position in shares of OmniAb by 1.6% during the 4th quarter. Isthmus Partners LLC now owns 453,135 shares of the company's stock worth $1,604,000 after acquiring an additional 7,001 shares in the last quarter. Woodstock Corp lifted its stake in OmniAb by 1.2% during the fourth quarter. Woodstock Corp now owns 802,578 shares of the company's stock worth $2,841,000 after purchasing an additional 9,725 shares during the last quarter. Choreo LLC purchased a new stake in OmniAb during the fourth quarter worth approximately $41,000. Finally, Rangeley Capital LLC purchased a new position in OmniAb in the fourth quarter valued at approximately $41,000. 72.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OABI shares. Benchmark reduced their price objective on shares of OmniAb from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Royal Bank of Canada reduced their price target on shares of OmniAb from $7.00 to $4.00 and set an "outperform" rating for the company in a research report on Thursday, March 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $11.00 price objective on shares of OmniAb in a report on Wednesday, March 19th.

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OmniAb Price Performance

Shares of OABI stock traded up $0.08 during trading hours on Friday, hitting $1.93. The stock had a trading volume of 851,877 shares, compared to its average volume of 559,772. The firm has a market capitalization of $235.72 million, a PE ratio of -3.11 and a beta of 0.06. The stock's 50 day moving average is $2.99 and its 200 day moving average is $3.52. OmniAb, Inc. has a twelve month low of $1.81 and a twelve month high of $5.25.

OmniAb (NASDAQ:OABI - Get Free Report) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.01. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. The firm had revenue of $10.80 million during the quarter, compared to the consensus estimate of $10.13 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. As a group, equities analysts predict that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Insider Transactions at OmniAb

In other news, CFO Kurt A. Gustafson sold 7,255 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $3.67, for a total value of $26,625.85. Following the transaction, the chief financial officer now owns 206,211 shares of the company's stock, valued at approximately $756,794.37. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charles S. Berkman sold 25,489 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total value of $82,584.36. Following the sale, the insider now directly owns 343,190 shares of the company's stock, valued at approximately $1,111,935.60. This represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 150,811 shares of company stock worth $458,129. Company insiders own 8.60% of the company's stock.

OmniAb 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.