Knott David M Jr Lowers Position in OmniAb, Inc. (NASDAQ:OABI)

Knott David M Jr decreased its position in OmniAb, Inc. (NASDAQ:OABI) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,094,505 shares of the company’s stock after selling 54,000 shares during the quarter. OmniAb makes up 1.4% of Knott David M Jr’s portfolio, making the stock its 12th biggest position. Knott David M Jr owned approximately 0.78% of OmniAb worth $3,875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of OmniAb by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,353,442 shares of the company’s stock worth $8,333,000 after acquiring an additional 28,061 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of OmniAb by 582.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,001,797 shares of the company’s stock valued at $3,546,000 after purchasing an additional 854,929 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of OmniAb during the fourth quarter valued at approximately $49,000. American Century Companies Inc. boosted its position in shares of OmniAb by 16.6% in the 4th quarter. American Century Companies Inc. now owns 157,211 shares of the company’s stock worth $557,000 after purchasing an additional 22,324 shares in the last quarter. Finally, Royce & Associates LP grew its stake in shares of OmniAb by 438.6% in the 4th quarter. Royce & Associates LP now owns 707,080 shares of the company’s stock worth $2,503,000 after buying an additional 575,796 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

OmniAb Price Performance

OABI stock opened at $2.40 on Tuesday. The stock has a market capitalization of $293.12 million, a P/E ratio of -3.87 and a beta of -0.14. OmniAb, Inc. has a 1-year low of $2.23 and a 1-year high of $5.54. The business has a fifty day moving average price of $3.25 and a 200-day moving average price of $3.69.

OmniAb (NASDAQ:OABI) last issued its earnings results on Tuesday, March 18th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $10.80 million during the quarter, compared to analyst estimates of $10.13 million. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. During the same quarter in the previous year, the firm earned ($0.14) EPS. As a group, analysts anticipate that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OABI shares. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research note on Wednesday, March 19th. Benchmark dropped their price target on shares of OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Finally, Royal Bank of Canada cut their price objective on shares of OmniAb from $7.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, March 27th.

Insider Activity at OmniAb

In other news, CEO Matthew W. Foehr sold 41,811 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total transaction of $135,467.64. Following the transaction, the chief executive officer now directly owns 3,749,639 shares of the company’s stock, valued at $12,148,830.36. This represents a 1.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles S. Berkman sold 25,489 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $3.24, for a total value of $82,584.36. Following the sale, the insider now owns 343,190 shares of the company’s stock, valued at approximately $1,111,935.60. This trade represents a 6.91 % 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 over the last quarter. Company insiders own 8.60% of the company’s stock.

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.