Allspring Global Investments Holdings LLC Makes New Investment in OmniAb, Inc. (NASDAQ:OABI)

Allspring Global Investments Holdings LLC bought a new position in OmniAb, Inc. (NASDAQ:OABI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 88,452 shares of the company’s stock, valued at approximately $546,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Chicago Capital LLC lifted its stake in OmniAb by 0.7% in the 3rd quarter. Chicago Capital LLC now owns 3,195,598 shares of the company’s stock worth $16,585,000 after purchasing an additional 22,893 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of OmniAb by 2.9% during the 3rd quarter. William Blair Investment Management LLC now owns 2,862,656 shares of the company’s stock valued at $14,857,000 after buying an additional 80,906 shares in the last quarter. Rubric Capital Management LP raised its position in shares of OmniAb by 306.0% during the 3rd quarter. Rubric Capital Management LP now owns 2,850,588 shares of the company’s stock valued at $14,795,000 after buying an additional 2,148,535 shares in the last quarter. Woodstock Corp raised its position in shares of OmniAb by 8.3% during the 4th quarter. Woodstock Corp now owns 743,002 shares of the company’s stock valued at $4,584,000 after buying an additional 57,212 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of OmniAb by 1.1% during the 3rd quarter. Deutsche Bank AG now owns 580,969 shares of the company’s stock valued at $3,015,000 after buying an additional 6,325 shares in the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on OABI shares. Truist Financial restated a “buy” rating and set a $10.00 price objective on shares of OmniAb in a research report on Tuesday, March 26th. Benchmark restated a “buy” rating and set a $8.00 price objective on shares of OmniAb in a research report on Friday, March 22nd. Royal Bank of Canada restated an “outperform” rating and set a $7.00 price objective on shares of OmniAb in a research report on Thursday, March 21st. Finally, HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research report on Thursday, March 21st.

Insiders Place Their Bets

In other OmniAb news, CFO Kurt A. Gustafson sold 11,849 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $5.46, for a total value of $64,695.54. Following the sale, the chief financial officer now owns 170,110 shares of the company’s stock, valued at approximately $928,800.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other OmniAb news, CFO Kurt A. Gustafson sold 6,954 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 176,697 shares of the company’s stock, valued at approximately $931,193.19. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kurt A. Gustafson sold 11,849 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $5.46, for a total transaction of $64,695.54. Following the completion of the sale, the chief financial officer now directly owns 170,110 shares in the company, valued at approximately $928,800.60. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

OmniAb Stock Performance

OABI stock opened at $4.43 on Friday. OmniAb, Inc. has a 52 week low of $3.14 and a 52 week high of $6.72. The firm’s fifty day moving average is $5.34 and its 200 day moving average is $5.32. The firm has a market cap of $518.89 million, a P/E ratio of -8.69 and a beta of -0.18.

OmniAb (NASDAQ:OABI) last released its earnings results on Wednesday, March 20th. The company reported ($0.14) EPS 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 company had revenue of $4.82 million for the quarter, compared to analyst estimates of $6.94 million. As a group, analysts forecast that OmniAb, Inc. will post -0.58 EPS for the current year.

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.