PNC Financial Services Group Inc. Buys 11,986 Shares of OmniAb, Inc. $OABI

PNC Financial Services Group Inc. boosted its stake in OmniAb, Inc. (NASDAQ:OABI) by 279.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,276 shares of the company’s stock after acquiring an additional 11,986 shares during the quarter. PNC Financial Services Group Inc.’s holdings in OmniAb were worth $39,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in OABI. Wells Fargo & Company MN lifted its position in OmniAb by 24.3% in the 4th quarter. Wells Fargo & Company MN now owns 62,859 shares of the company’s stock valued at $223,000 after acquiring an additional 12,278 shares in the last quarter. Invesco Ltd. boosted its stake in shares of OmniAb by 3.3% during the 4th quarter. Invesco Ltd. now owns 93,653 shares of the company’s stock worth $332,000 after buying an additional 2,997 shares during the last quarter. 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 buying an additional 21,100 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of OmniAb during the 4th quarter worth about $183,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of OmniAb by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,025,674 shares of the company’s stock worth $10,711,000 after buying an additional 142,513 shares during the last quarter. 72.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on OABI. Royal Bank Of Canada reduced their price objective on shares of OmniAb from $4.00 to $3.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Benchmark restated a “buy” rating and set a $6.00 price objective on shares of OmniAb in a research note on Monday, May 12th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $6.67.

OmniAb Stock Performance

Shares of NASDAQ:OABI opened at $1.85 on Friday. OmniAb, Inc. has a 52-week low of $1.22 and a 52-week high of $4.87. The company has a market capitalization of $227.00 million, a P/E ratio of -3.08 and a beta of 0.16. The company has a 50-day simple moving average of $1.91 and a 200 day simple moving average of $2.18.

OmniAb (NASDAQ:OABI) last issued its earnings results on Wednesday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). OmniAb had a negative net margin of 275.83% and a negative return on equity of 22.79%. The firm had revenue of $3.90 million during the quarter, compared to analyst estimates of $5.33 million. As a group, equities analysts forecast that OmniAb, Inc. will post -0.61 earnings per share for the current year.

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.