BNP Paribas Financial Markets Buys Shares of 17,549 OmniAb, Inc. (NASDAQ:OABI)

BNP Paribas Financial Markets bought a new stake in shares of OmniAb, Inc. (NASDAQ:OABI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,549 shares of the company’s stock, valued at approximately $62,000.

A number of other institutional investors and hedge funds have also made changes to their positions in OABI. JPMorgan Chase & Co. grew its holdings in shares of OmniAb by 582.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,001,797 shares of the company’s stock valued at $3,546,000 after buying an additional 854,929 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of OmniAb by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,353,442 shares of the company’s stock worth $8,333,000 after acquiring an additional 28,061 shares during the last quarter. Choreo LLC purchased a new position in shares of OmniAb during the 4th quarter worth $41,000. Barclays PLC boosted its stake in shares of OmniAb by 14.7% during the 4th 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 last quarter. Finally, Price T Rowe Associates Inc. MD boosted 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 acquiring an additional 7,950 shares during the last quarter. Institutional investors own 72.08% of the company’s stock.

OmniAb Price Performance

Shares of OmniAb stock opened at $1.41 on Tuesday. The stock has a market capitalization of $172.21 million, a PE ratio of -2.27 and a beta of 0.10. OmniAb, Inc. has a 1-year low of $1.22 and a 1-year high of $4.96. The company’s fifty day simple moving average is $1.75 and its 200-day simple moving average is $2.88.

OmniAb (NASDAQ:OABI) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.17) EPS for the quarter, meeting 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, research analysts anticipate that OmniAb, Inc. will post -0.61 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other OmniAb news, CFO Kurt A. Gustafson sold 11,963 shares of OmniAb stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $2.37, for a total value of $28,352.31. Following the sale, the chief financial officer now directly owns 217,492 shares in the company, valued at approximately $515,456.04. The trade was a 5.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Higgins purchased 125,750 shares of OmniAb stock in a transaction on Thursday, March 20th. The stock was bought at an average price of $2.35 per share, for a total transaction of $295,512.50. Following the completion of the acquisition, the director now owns 2,762,887 shares in the company, valued at $6,492,784.45. The trade was a 4.77% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 215,750 shares of company stock worth $425,613 and have sold 38,551 shares worth $81,528. Insiders own 8.60% of the company’s stock.

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.