Northern Trust Corp Acquires 45,169 Shares of OmniAb, Inc. (NASDAQ:OABI)

Northern Trust Corp raised its holdings in shares of OmniAb, Inc. (NASDAQ:OABI) by 5.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 882,455 shares of the company’s stock after acquiring an additional 45,169 shares during the quarter. Northern Trust Corp owned approximately 0.62% of OmniAb worth $3,124,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in OABI. Invesco Ltd. grew its stake in shares of OmniAb by 3.3% in the fourth quarter. Invesco Ltd. now owns 93,653 shares of the company’s stock valued at $332,000 after buying an additional 2,997 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of OmniAb by 16.5% during the 4th quarter. SG Americas Securities LLC now owns 40,609 shares of the company’s stock worth $144,000 after buying an additional 5,751 shares during the last quarter. Isthmus Partners LLC lifted its stake in shares of OmniAb by 1.6% during the 4th quarter. Isthmus Partners LLC now owns 453,135 shares of the company’s stock worth $1,604,000 after buying an additional 7,001 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of OmniAb by 26.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,217 shares of the company’s stock worth $136,000 after buying an additional 7,950 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in OmniAb during the fourth quarter worth about $38,000. 72.08% of the stock is owned by institutional investors.

Insider Activity at OmniAb

In other OmniAb news, CFO Kurt A. Gustafson sold 11,963 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $2.37, for a total transaction of $28,352.31. Following the transaction, the chief financial officer now owns 217,492 shares in the company, valued at approximately $515,456.04. This represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven Love bought 25,000 shares of OmniAb stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average price of $1.46 per share, with a total value of $36,500.00. Following the purchase, the director now owns 38,333 shares in the company, valued at approximately $55,966.18. This represents a 187.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 215,750 shares of company stock worth $425,613 and have sold 38,551 shares worth $81,528. 8.60% of the stock is owned by corporate insiders.

OmniAb Stock Performance

Shares of NASDAQ OABI opened at $1.38 on Friday. The company has a market capitalization of $168.55 million, a P/E ratio of -2.23 and a beta of 0.10. OmniAb, Inc. has a 52-week low of $1.35 and a 52-week high of $4.96. The company’s 50 day moving average price is $1.89 and its 200-day moving average price is $3.03.

OmniAb (NASDAQ:OABI) last released its earnings results on Thursday, May 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.17). OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. The company had revenue of $4.15 million for the quarter, compared to the consensus estimate of $4.49 million. Analysts forecast that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on OABI shares. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of OmniAb in a research report on Wednesday, March 19th. Royal Bank of Canada decreased 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. Finally, Benchmark reissued a “buy” rating and set a $6.00 target price on shares of OmniAb in a report on Monday, May 12th.

About OmniAb

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.