Millennium Management LLC Reduces Stock Position in OmniAb, Inc. (NASDAQ:OABI)

Millennium Management LLC decreased its holdings in OmniAb, Inc. (NASDAQ:OABI - Free Report) by 64.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,030,448 shares of the company's stock after selling 1,881,982 shares during the quarter. Millennium Management LLC owned approximately 0.88% of OmniAb worth $3,864,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OABI. Squarepoint Ops LLC bought a new position in shares of OmniAb in the second quarter worth $449,000. Sei Investments Co. boosted its stake in OmniAb by 11.0% during the 2nd quarter. Sei Investments Co. now owns 29,024 shares of the company's stock valued at $109,000 after purchasing an additional 2,888 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of OmniAb by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,012,216 shares of the company's stock worth $11,296,000 after acquiring an additional 194,835 shares during the period. American Century Companies Inc. lifted its position in shares of OmniAb by 52.7% in the 2nd quarter. American Century Companies Inc. now owns 110,036 shares of the company's stock worth $413,000 after acquiring an additional 37,963 shares during the period. Finally, Isthmus Partners LLC grew its holdings in shares of OmniAb by 37.2% in the 2nd quarter. Isthmus Partners LLC now owns 528,385 shares of the company's stock worth $1,981,000 after purchasing an additional 143,387 shares during the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

OmniAb Price Performance

Shares of OABI traded down $0.07 during midday trading on Monday, hitting $3.97. 188,384 shares of the company traded hands, compared to its average volume of 515,488. OmniAb, Inc. has a one year low of $3.56 and a one year high of $6.72. The firm has a market cap of $466.93 million, a P/E ratio of -6.20 and a beta of -0.13. The stock has a 50-day moving average of $4.20 and a 200-day moving average of $4.40.

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

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.