Private Management Group Inc. Has $8.48 Million Stock Position in OmniAb, Inc. (NASDAQ:OABI)

Private Management Group Inc. lowered its position in shares of OmniAb, Inc. (NASDAQ:OABI) by 0.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,261,833 shares of the company’s stock after selling 16,779 shares during the period. Private Management Group Inc. owned about 1.92% of OmniAb worth $8,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ADAR1 Capital Management LLC bought a new stake in shares of OmniAb in the 4th quarter valued at about $2,950,000. Isthmus Partners LLC grew its position in shares of OmniAb by 18.3% in the 4th quarter. Isthmus Partners LLC now owns 310,774 shares of the company’s stock valued at $1,917,000 after buying an additional 48,138 shares during the last quarter. Simplicity Wealth LLC grew its position in shares of OmniAb by 23.3% in the 2nd quarter. Simplicity Wealth LLC now owns 42,160 shares of the company’s stock valued at $158,000 after buying an additional 7,976 shares during the last quarter. Jump Financial LLC grew its position in shares of OmniAb by 157.1% in the 4th quarter. Jump Financial LLC now owns 49,732 shares of the company’s stock valued at $307,000 after buying an additional 30,386 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its position in shares of OmniAb by 80.9% in the 1st quarter. Bleakley Financial Group LLC now owns 34,250 shares of the company’s stock valued at $186,000 after buying an additional 15,321 shares during the last quarter. Institutional investors own 72.08% of the company’s stock.

OmniAb Stock Performance

Shares of OmniAb stock opened at $3.97 on Monday. OmniAb, Inc. has a one year low of $3.56 and a one year high of $6.72. The stock’s 50-day moving average is $4.29 and its 200 day moving average is $4.64.

OmniAb (NASDAQ:OABI) last announced its earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $6.52 million. During the same quarter in the prior year, the company earned ($0.15) EPS. Analysts expect that OmniAb, Inc. will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OABI. Royal Bank of Canada reiterated an “outperform” rating and issued a $7.00 price target on shares of OmniAb in a research report on Friday, August 16th. Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of OmniAb in a research report on Monday, August 19th. Finally, HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of OmniAb in a research report on Monday, August 12th.

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.