OmniAb, Inc. (NASDAQ:OABI) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its position in OmniAb, Inc. (NASDAQ:OABI) by 33.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,264 shares of the company’s stock after acquiring an additional 9,809 shares during the quarter. Squarepoint Ops LLC’s holdings in OmniAb were worth $139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of OABI. SG Americas Securities LLC increased its holdings in shares of OmniAb by 16.5% in the 4th quarter. SG Americas Securities LLC now owns 40,609 shares of the company’s stock valued at $144,000 after acquiring an additional 5,751 shares during the period. Choreo LLC acquired a new position in shares of OmniAb in the fourth quarter valued at approximately $41,000. Charles Schwab Investment Management Inc. increased its holdings in shares of OmniAb by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 819,708 shares of the company’s stock valued at $2,902,000 after purchasing an additional 32,186 shares during the period. Isthmus Partners LLC increased its holdings in shares of OmniAb by 1.6% in the fourth quarter. Isthmus Partners LLC now owns 453,135 shares of the company’s stock valued at $1,604,000 after purchasing an additional 7,001 shares during the period. Finally, Royce & Associates LP increased its holdings in shares of OmniAb by 438.6% in the fourth quarter. Royce & Associates LP now owns 707,080 shares of the company’s stock valued at $2,503,000 after purchasing an additional 575,796 shares during the period. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OABI has been the topic of several recent research reports. Royal Bank of Canada dropped their price objective 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. 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, 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.

OmniAb Stock Up 8.7%

Shares of OABI opened at $1.50 on Monday. The company has a 50-day simple moving average of $1.67 and a 200-day simple moving average of $2.81. The company has a market capitalization of $183.20 million, a PE ratio of -2.42 and a beta of -0.03. OmniAb, Inc. has a 52-week low of $1.22 and a 52-week high of $4.96.

OmniAb (NASDAQ:OABI) last issued 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 during the quarter, compared to analysts’ expectations of $4.49 million. On average, research analysts anticipate that OmniAb, Inc. will post -0.61 EPS for the current year.

Insider Activity at OmniAb

In other OmniAb news, Director John L. Higgins bought 125,750 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was purchased at an average cost of $2.35 per share, for a total transaction of $295,512.50. Following the acquisition, the director now owns 2,762,887 shares of the company’s stock, valued at $6,492,784.45. The trade was a 4.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew W. Foehr sold 19,382 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $2.00, for a total transaction of $38,764.00. Following the transaction, the chief executive officer now owns 3,796,236 shares of the company’s stock, valued at $7,592,472. This trade represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 215,750 shares of company stock valued at $425,613 and sold 38,551 shares valued at $81,528. 8.60% of the stock is currently owned by company 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.