OmniAb, Inc. (NASDAQ:OABI) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in OmniAb, Inc. (NASDAQ:OABI) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,353,442 shares of the company’s stock after purchasing an additional 28,061 shares during the quarter. Geode Capital Management LLC owned 1.67% of OmniAb worth $8,333,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OABI. Choreo LLC acquired a new position in shares of OmniAb during the 4th quarter worth approximately $41,000. KLP Kapitalforvaltning AS purchased a new stake in OmniAb in the 4th quarter worth $49,000. SG Americas Securities LLC raised its position in OmniAb by 16.5% during the fourth quarter. SG Americas Securities LLC now owns 40,609 shares of the company’s stock worth $144,000 after acquiring an additional 5,751 shares during the period. Barclays PLC lifted its holdings in OmniAb by 321.5% during the third quarter. Barclays PLC now owns 143,215 shares of the company’s stock valued at $606,000 after purchasing an additional 109,236 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of OmniAb by 16.6% in the fourth quarter. American Century Companies Inc. now owns 157,211 shares of the company’s stock valued at $557,000 after purchasing an additional 22,324 shares during the period. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Insider Activity

In related news, CEO Matthew W. Foehr sold 13,964 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $3.68, for a total transaction of $51,387.52. Following the completion of the sale, the chief executive officer now directly owns 3,798,682 shares of the company’s stock, valued at approximately $13,979,149.76. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kurt A. Gustafson sold 7,255 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $3.67, for a total transaction of $26,625.85. Following the completion of the sale, the chief financial officer now owns 206,211 shares in the company, valued at approximately $756,794.37. This trade represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,985 shares of company stock valued at $189,773. 8.60% of the stock is currently owned by company insiders.

OmniAb Stock Performance

NASDAQ OABI opened at $1.86 on Thursday. The stock’s fifty day moving average is $2.70 and its two-hundred day moving average is $3.39. The firm has a market capitalization of $226.56 million, a P/E ratio of -2.99 and a beta of 0.06. OmniAb, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $4.96.

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

Analyst Upgrades and Downgrades

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

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.