Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in OmniAb, Inc. (NASDAQ:OABI)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in OmniAb, Inc. (NASDAQ:OABI) by 56.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,772 shares of the company’s stock after buying an additional 6,755 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in OmniAb were worth $116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Financial Advocates Investment Management purchased a new stake in shares of OmniAb in the third quarter worth $52,000. China Universal Asset Management Co. Ltd. bought a new position in OmniAb in the 4th quarter worth about $83,000. Jump Financial LLC purchased a new stake in OmniAb during the 3rd quarter valued at about $100,000. SG Americas Securities LLC purchased a new position in OmniAb in the third quarter worth about $141,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of OmniAb in the third quarter worth approximately $182,000. Institutional investors own 72.08% of the company’s stock.

OmniAb Trading Up 0.7 %

Shares of OABI opened at $4.57 on Friday. The firm has a fifty day simple moving average of $5.09 and a two-hundred day simple moving average of $5.28. The firm has a market cap of $535.27 million, a PE ratio of -8.96 and a beta of -0.08. OmniAb, Inc. has a 1-year low of $3.14 and a 1-year high of $6.72.

OmniAb (NASDAQ:OABI) last posted its quarterly earnings data on Wednesday, March 20th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $4.82 million during the quarter, compared to analysts’ expectations of $6.94 million. OmniAb had a negative return on equity of 15.41% and a negative net margin of 148.16%. As a group, research analysts forecast that OmniAb, Inc. will post -0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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