JPMorgan Chase & Co. Buys 854,929 Shares of OmniAb, Inc. (NASDAQ:OABI)

JPMorgan Chase & Co. boosted its holdings in shares of OmniAb, Inc. (NASDAQ:OABI - Free Report) by 582.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,001,797 shares of the company's stock after acquiring an additional 854,929 shares during the quarter. JPMorgan Chase & Co. owned 0.71% of OmniAb worth $3,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of OABI. Choreo LLC acquired a new stake in shares of OmniAb during the fourth quarter worth approximately $41,000. KLP Kapitalforvaltning AS purchased a new stake in OmniAb in the 4th quarter worth approximately $49,000. SG Americas Securities LLC boosted its stake in shares of OmniAb by 16.5% during the 4th quarter. SG Americas Securities LLC now owns 40,609 shares of the company's stock valued at $144,000 after buying an additional 5,751 shares during the period. American Century Companies Inc. grew its holdings in shares of OmniAb by 16.6% during the 4th quarter. American Century Companies Inc. now owns 157,211 shares of the company's stock valued at $557,000 after acquiring an additional 22,324 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of OmniAb by 321.5% in the third quarter. Barclays PLC now owns 143,215 shares of the company's stock worth $606,000 after acquiring an additional 109,236 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company's stock.

OmniAb Price Performance

Shares of OABI stock traded down $0.06 during trading on Friday, reaching $1.77. The company had a trading volume of 131,654 shares, compared to its average volume of 575,242. The firm's 50 day simple moving average is $2.66 and its two-hundred day simple moving average is $3.38. OmniAb, Inc. has a one year low of $1.70 and a one year high of $4.96. The company has a market capitalization of $215.57 million, a PE ratio of -2.85 and a beta of 0.06.

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 analysts' consensus estimates of ($0.13) by $0.01. The company had revenue of $10.80 million for the quarter, compared to analyst estimates of $10.13 million. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. During the same quarter last year, the firm posted ($0.14) earnings per share. Analysts forecast that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Insider Buying and Selling

In other OmniAb news, Director John L. Higgins purchased 125,750 shares of the company's stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $2.35 per share, with a total value of $295,512.50. Following the transaction, the director now directly owns 2,762,887 shares in the company, valued at approximately $6,492,784.45. This represents a 4.77 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew W. Foehr sold 19,382 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $2.00, for a total transaction of $38,764.00. Following the completion of the sale, the chief executive officer now owns 3,796,236 shares in the company, valued at approximately $7,592,472. The trade was a 0.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,985 shares of company stock worth $189,773 in the last quarter. 8.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on OABI. HC Wainwright reissued a "buy" rating and set a $11.00 price objective on shares of OmniAb in a research report on Wednesday, March 19th. Royal Bank of Canada lowered their price target on OmniAb from $7.00 to $4.00 and set an "outperform" rating for the company in a research note on Thursday, March 27th. Finally, Benchmark dropped their price objective on OmniAb from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Thursday, March 20th.

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.