OmniAb, Inc. (NASDAQ:OABI) Shares Purchased by Royce & Associates LP

Royce & Associates LP boosted its holdings in OmniAb, Inc. (NASDAQ:OABI - Free Report) by 438.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 707,080 shares of the company's stock after purchasing an additional 575,796 shares during the quarter. Royce & Associates LP owned about 0.50% of OmniAb worth $2,503,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in OABI. SG Americas Securities LLC boosted its position in shares of OmniAb by 16.5% in the 4th quarter. SG Americas Securities LLC now owns 40,609 shares of the company's stock valued at $144,000 after purchasing an additional 5,751 shares during the period. Isthmus Partners LLC grew its position in shares of OmniAb by 1.6% during the fourth 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 during the last quarter. Woodstock Corp increased its holdings in shares of OmniAb by 1.2% in the 4th quarter. Woodstock Corp now owns 802,578 shares of the company's stock valued at $2,841,000 after acquiring an additional 9,725 shares during the period. Choreo LLC acquired a new position in shares of OmniAb in the 4th quarter valued at $41,000. Finally, FMR LLC raised its position in OmniAb by 10.6% in the 3rd quarter. FMR LLC now owns 138,813 shares of the company's stock valued at $587,000 after purchasing an additional 13,324 shares during the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

OmniAb Trading Down 3.9 %

Shares of OABI stock traded down $0.10 during trading hours on Tuesday, hitting $2.44. The company's stock had a trading volume of 697,981 shares, compared to its average volume of 539,317. OmniAb, Inc. has a twelve month low of $2.23 and a twelve month high of $5.63. The business has a fifty day moving average of $3.33 and a 200-day moving average of $3.75. The stock has a market cap of $344.57 million, a price-to-earnings ratio of -3.94 and a beta of -0.14.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on OABI shares. HC Wainwright reaffirmed a "buy" rating and issued a $11.00 target price on shares of OmniAb in a report on Wednesday, March 19th. Benchmark dropped their price objective on OmniAb from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Thursday, March 20th.

Insider Buying and Selling at OmniAb

In other OmniAb news, Director John L. Higgins acquired 125,750 shares of the stock in a transaction on Thursday, March 20th. The stock was purchased at an average price of $2.35 per share, for a total transaction of $295,512.50. Following the purchase, the director now directly owns 2,762,887 shares in the company, valued at $6,492,784.45. This trade represents a 4.77 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kurt A. Gustafson sold 15,526 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total transaction of $50,304.24. Following the sale, the chief financial officer now directly owns 212,720 shares of the company's stock, valued at $689,212.80. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,260 shares of company stock worth $376,601 in the last quarter. 8.60% of the stock is owned by insiders.

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.