Dimensional Fund Advisors LP Buys 194,835 Shares of OmniAb, Inc. (NASDAQ:OABI)

Dimensional Fund Advisors LP raised its position in shares of OmniAb, Inc. (NASDAQ:OABI - Free Report) by 6.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,012,216 shares of the company's stock after purchasing an additional 194,835 shares during the period. Dimensional Fund Advisors LP owned approximately 2.56% of OmniAb worth $11,296,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OABI. ADAR1 Capital Management LLC purchased a new position in shares of OmniAb in the fourth quarter worth about $2,950,000. Isthmus Partners LLC lifted its stake in OmniAb by 37.2% in the second quarter. Isthmus Partners LLC now owns 528,385 shares of the company's stock worth $1,981,000 after acquiring an additional 143,387 shares during the period. Simplicity Wealth LLC boosted its holdings in OmniAb by 23.3% in the second quarter. Simplicity Wealth LLC now owns 42,160 shares of the company's stock valued at $158,000 after acquiring an additional 7,976 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of OmniAb by 80.9% in the 1st quarter. Bleakley Financial Group LLC now owns 34,250 shares of the company's stock worth $186,000 after purchasing an additional 15,321 shares during the period. Finally, Orchard Capital Management LLC lifted its holdings in OmniAb by 6.1% in the fourth quarter. Orchard Capital Management LLC now owns 1,358,028 shares of the company's stock worth $8,379,000 after buying an additional 77,838 shares during the period. Institutional investors own 72.08% of the company's stock.

OmniAb Stock Down 2.0 %

Shares of NASDAQ OABI traded down $0.08 during midday trading on Monday, hitting $3.91. The stock had a trading volume of 272,579 shares, compared to its average volume of 520,278. The company has a market cap of $459.87 million, a P/E ratio of -6.23 and a beta of -0.13. The business's 50 day moving average is $4.28 and its 200-day moving average is $4.46. OmniAb, Inc. has a 52 week low of $3.56 and a 52 week high of $6.72.

OmniAb (NASDAQ:OABI - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.05. The firm had revenue of $7.61 million during the quarter, compared to analysts' expectations of $6.52 million. OmniAb had a negative return on equity of 20.21% and a negative net margin of 287.29%. During the same quarter in the previous year, the business earned ($0.15) earnings per share. As a group, analysts expect that OmniAb, Inc. will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on OABI. HC Wainwright reaffirmed a "buy" rating and issued a $11.00 price target on shares of OmniAb in a research note on Monday, August 12th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $7.00 target price on shares of OmniAb in a research note on Friday, August 16th. Finally, Benchmark restated a "buy" rating and issued a $8.00 price target on shares of OmniAb in a research note on Monday, August 19th.

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.