Deutsche Bank AG Reduces Stock Position in OmniAb, Inc. $OABI

Deutsche Bank AG decreased its position in OmniAb, Inc. (NASDAQ:OABI) by 30.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 432,859 shares of the company’s stock after selling 193,247 shares during the quarter. Deutsche Bank AG owned about 0.35% of OmniAb worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of OmniAb by 279.4% during the first quarter. PNC Financial Services Group Inc. now owns 16,276 shares of the company’s stock worth $39,000 after buying an additional 11,986 shares in the last quarter. Private Management Group Inc. boosted its position in OmniAb by 13.3% during the first quarter. Private Management Group Inc. now owns 2,529,759 shares of the company’s stock worth $6,071,000 after acquiring an additional 296,711 shares during the last quarter. Towerview LLC grew its stake in OmniAb by 5.5% in the 1st quarter. Towerview LLC now owns 580,000 shares of the company’s stock worth $1,392,000 after acquiring an additional 30,000 shares during the period. Royce & Associates LP raised its holdings in OmniAb by 15.6% in the 1st quarter. Royce & Associates LP now owns 817,080 shares of the company’s stock valued at $1,961,000 after acquiring an additional 110,000 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of OmniAb during the 1st quarter worth $259,000. 72.08% of the stock is owned by institutional investors and hedge funds.

OmniAb Trading Up 2.8%

Shares of OABI opened at $1.85 on Monday. OmniAb, Inc. has a twelve month low of $1.22 and a twelve month high of $4.87. The firm has a market capitalization of $227.00 million, a P/E ratio of -3.08 and a beta of 0.16. The stock’s fifty day simple moving average is $1.91 and its 200 day simple moving average is $2.16.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada decreased their price objective on OmniAb from $4.00 to $3.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of OmniAb in a research note on Monday, May 12th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $6.67.

OmniAb 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.