Price T Rowe Associates Inc. MD Has $136,000 Stock Position in OmniAb, Inc. (NASDAQ:OABI)

Price T Rowe Associates Inc. MD lifted its position in OmniAb, Inc. (NASDAQ:OABI) by 26.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,217 shares of the company’s stock after buying an additional 7,950 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in OmniAb were worth $136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Hsbc Holdings PLC bought a new position in OmniAb during the fourth quarter worth $38,000. Dimensional Fund Advisors LP increased its position in OmniAb by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,025,674 shares of the company’s stock worth $10,711,000 after acquiring an additional 142,513 shares during the period. XTX Topco Ltd bought a new position in OmniAb during the fourth quarter worth $183,000. Barclays PLC increased its position in OmniAb by 14.7% during the fourth quarter. Barclays PLC now owns 164,315 shares of the company’s stock worth $582,000 after acquiring an additional 21,100 shares during the period. Finally, Invesco Ltd. increased its position in OmniAb by 3.3% during the fourth quarter. Invesco Ltd. now owns 93,653 shares of the company’s stock worth $332,000 after acquiring an additional 2,997 shares during the period. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Steven Love acquired 25,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were purchased at an average cost of $1.46 per share, for a total transaction of $36,500.00. Following the completion of the acquisition, the director now directly owns 38,333 shares in the company, valued at approximately $55,966.18. This trade represents a 187.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Higgins bought 125,750 shares of OmniAb stock in a transaction dated Thursday, March 20th. The stock was acquired at an average cost of $2.35 per share, with a total value of $295,512.50. Following the transaction, the director now owns 2,762,887 shares of the company’s stock, valued at $6,492,784.45. This trade represents a 4.77% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 215,750 shares of company stock worth $425,613 and have sold 67,985 shares worth $189,773. 8.60% of the stock is owned by corporate insiders.

OmniAb Price Performance

OmniAb stock opened at $1.58 on Friday. The company’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $3.12. OmniAb, Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $4.96. The firm has a market capitalization of $192.97 million, a price-to-earnings ratio of -2.55 and a beta of 0.10.

OmniAb (NASDAQ:OABI) last announced its earnings results on Thursday, May 8th. The company reported ($0.17) EPS for the quarter, hitting the consensus estimate of ($0.17). The firm had revenue of $4.15 million for the quarter, compared to the consensus estimate of $4.49 million. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. As a group, analysts predict that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of OmniAb in a report on Wednesday, March 19th. Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of OmniAb in a report on Monday, May 12th. Finally, Royal Bank of Canada lowered their price target on shares of OmniAb from $7.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, March 27th.

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.