Federated Hermes Inc. Purchases New Shares in OmniAb, Inc. (NASDAQ:OABI)

Federated Hermes Inc. acquired a new position in OmniAb, Inc. (NASDAQ:OABI) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 6,092 shares of the company’s stock, valued at approximately $38,000.

Several other hedge funds have also modified their holdings of OABI. Financial Advocates Investment Management acquired a new stake in OmniAb in the 3rd quarter valued at $52,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of OmniAb in the fourth quarter valued at about $83,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of OmniAb by 56.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,772 shares of the company’s stock worth $116,000 after purchasing an additional 6,755 shares in the last quarter. Jump Financial LLC acquired a new position in shares of OmniAb during the 3rd quarter worth about $100,000. Finally, SG Americas Securities LLC purchased a new position in OmniAb in the 3rd quarter valued at about $141,000. 72.08% of the stock is owned by hedge funds and other institutional investors.

OmniAb Stock Performance

Shares of OmniAb stock opened at $4.59 on Wednesday. The business’s 50 day moving average price is $5.15 and its 200 day moving average price is $5.29. The company has a market cap of $537.61 million, a price-to-earnings ratio of -9.00 and a beta of -0.08. OmniAb, Inc. has a one year low of $3.14 and a one year high of $6.72.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented 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 Thursday, March 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $7.00 price objective on shares of OmniAb in a research note on Thursday, March 21st. Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of OmniAb in a research note on Friday, March 22nd. Finally, Truist Financial reissued a “buy” rating and issued a $10.00 price target on shares of OmniAb in a research note on Tuesday, March 26th.

Insider Buying and Selling at OmniAb

In other news, CFO Kurt A. Gustafson sold 11,849 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were 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 owns 170,110 shares in the company, valued at approximately $928,800.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other OmniAb news, CEO Matthew W. Foehr purchased 225,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were acquired at an average price of $5.19 per share, with a total value of $1,167,750.00. Following the purchase, the chief executive officer now directly owns 2,908,803 shares in the company, valued at approximately $15,096,687.57. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kurt A. Gustafson sold 11,849 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $5.46, for a total value of $64,695.54. Following the transaction, the chief financial officer now owns 170,110 shares of the company’s stock, valued at $928,800.60. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.

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.