OmniAb, Inc. (NASDAQ:OABI) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its position in OmniAb, Inc. (NASDAQ:OABI) by 29.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,219,955 shares of the company’s stock after selling 510,470 shares during the period. Kornitzer Capital Management Inc. KS owned about 1.05% of OmniAb worth $7,527,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stephens Inc. AR purchased a new position in OmniAb in the 1st quarter worth approximately $32,000. Stifel Financial Corp purchased a new position in OmniAb in the 1st quarter worth approximately $37,000. Federated Hermes Inc. purchased a new position in OmniAb in the 4th quarter worth approximately $38,000. Two Sigma Advisers LP purchased a new position in OmniAb in the 1st quarter worth approximately $47,000. Finally, HighTower Advisors LLC purchased a new position in OmniAb in the 1st quarter worth approximately $48,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $7.00 target price on shares of OmniAb in a research note on Thursday, March 21st. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of OmniAb in a research note on Thursday, March 21st. Benchmark reaffirmed a “buy” rating and set a $8.00 price target on shares of OmniAb in a research report on Friday, March 22nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $10.00 price target on shares of OmniAb in a research report on Tuesday, March 26th.

OmniAb Stock Up 1.7 %

Shares of OABI stock traded up $0.08 during trading on Friday, hitting $4.67. 930,364 shares of the stock traded hands, compared to its average volume of 557,369. The firm’s fifty day moving average price is $5.39 and its 200-day moving average price is $5.32. OmniAb, Inc. has a 52-week low of $3.14 and a 52-week high of $6.72.

OmniAb (NASDAQ:OABI) last posted its earnings results on Wednesday, March 20th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.03. OmniAb had a negative net margin of 148.16% and a negative return on equity of 15.41%. The firm had revenue of $4.82 million during the quarter, compared to the consensus estimate of $6.94 million. On average, equities research analysts anticipate that OmniAb, Inc. will post -0.58 EPS for the current year.

Insider Activity at OmniAb

In related news, CFO Kurt A. Gustafson sold 6,954 shares of OmniAb stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $5.27, for a total value of $36,647.58. Following the completion of the sale, the chief financial officer now owns 176,697 shares in the company, valued at approximately $931,193.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kurt A. Gustafson sold 6,954 shares of OmniAb stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $5.27, for a total value of $36,647.58. Following the completion of the sale, the chief financial officer now owns 176,697 shares in the company, valued at approximately $931,193.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew W. Foehr bought 225,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was bought at an average price of $5.19 per share, with a total value of $1,167,750.00. Following the acquisition, the chief executive officer now directly owns 2,908,803 shares in the company, valued at approximately $15,096,687.57. The disclosure for this purchase can be found here. 7.00% 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.