OmniAb, Inc. (NASDAQ:OABI) Short Interest Update

OmniAb, Inc. (NASDAQ:OABI - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 9,070,000 shares, a growth of 21.3% from the March 15th total of 7,480,000 shares. Approximately 9.3% of the company's shares are short sold. Based on an average daily volume of 649,400 shares, the short-interest ratio is presently 14.0 days.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other OmniAb news, insider Charles S. Berkman sold 8,215 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $3.68, for a total transaction of $30,231.20. Following the sale, the insider now directly owns 364,131 shares in the company, valued at $1,340,002.08. This represents a 2.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew W. Foehr sold 19,382 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 3,796,236 shares in the company, valued at $7,592,472. The trade was a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,985 shares of company stock worth $189,773 over the last three months. Company insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On OmniAb

Several large investors have recently made changes to their positions in OABI. Hsbc Holdings PLC purchased a new position in shares of OmniAb in the fourth quarter valued at $38,000. Rangeley Capital LLC bought a new position in shares of OmniAb during the fourth quarter valued at approximately $41,000. Choreo LLC bought a new position in shares of OmniAb during the fourth quarter valued at approximately $41,000. KLP Kapitalforvaltning AS bought a new position in OmniAb in the 4th quarter worth approximately $49,000. Finally, Sherbrooke Park Advisers LLC grew its holdings in OmniAb by 53.5% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 17,226 shares of the company's stock worth $61,000 after buying an additional 6,001 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company's stock.

OmniAb Stock Up 4.1 %

Shares of OABI traded up $0.08 on Wednesday, hitting $1.91. 33,001 shares of the stock traded hands, compared to its average volume of 571,863. The firm has a market capitalization of $232.67 million, a P/E ratio of -3.07 and a beta of 0.06. The stock's 50 day moving average is $2.74 and its two-hundred day moving average is $3.41. OmniAb has a 1 year low of $1.70 and a 1 year high of $4.96.

OmniAb (NASDAQ:OABI - Get Free Report) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.12) earnings per share (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 business had revenue of $10.80 million for the quarter, compared to the consensus estimate of $10.13 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Research analysts forecast that OmniAb will post -0.61 EPS for the current year.

About OmniAb

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.