OmniAb, Inc. $OABI Stock Sold by Private Management Group Inc.

Private Management Group Inc. reduced its holdings in shares of OmniAb, Inc. (NASDAQ:OABI) by 14.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,013,460 shares of the company’s stock after selling 331,310 shares during the quarter. Private Management Group Inc. owned approximately 1.39% of OmniAb worth $9,987,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Whitefort Capital Management LP bought a new position in OmniAb during the second quarter worth $25,211,699. BlackRock Inc. acquired a new stake in shares of OmniAb during the 2nd quarter worth about $21,888,000. Rice Hall James & Associates LLC acquired a new stake in shares of OmniAb during the 2nd quarter worth about $6,422,000. State Street Corp lifted its stake in shares of OmniAb by 3.2% during the 2nd quarter. State Street Corp now owns 2,133,549 shares of the company’s stock worth $5,249,000 after buying an additional 66,406 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new stake in shares of OmniAb during the 2nd quarter worth about $2,331,000. Institutional investors own 72.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Weiss Ratings upgraded shares of OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research report on Monday, August 17th. Finally, Leerink Partners raised their price objective on shares of OmniAb from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 7th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.50.

OmniAb Stock Down 3.8%

Shares of OmniAb stock opened at $5.10 on Wednesday. The stock has a market capitalization of $743.89 million, a price-to-earnings ratio of -15.00 and a beta of 0.60. OmniAb, Inc. has a twelve month low of $1.35 and a twelve month high of $5.45. The company has a 50-day simple moving average of $4.73 and a two-hundred day simple moving average of $2.82.

OmniAb (NASDAQ:OABI) last announced its earnings results on Friday, October 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. OmniAb had a negative net margin of 108.11% and a negative return on equity of 16.74%. The firm had revenue of $3.99 million for the quarter, compared to analyst estimates of $3.49 million. On average, sell-side analysts anticipate that OmniAb, Inc. will post -0.34 earnings per share for the current fiscal year.

OmniAb Profile

OmniAb, Inc. is a biotechnology company that develops antibody discovery technologies for use in creating therapeutic medicines. It works with pharmaceutical and biotechnology companies to identify and advance antibody candidates for potential drug development. Its platform includes genetically engineered animals that can produce antibodies with human characteristics, along with related discovery and screening technologies. These tools are designed to help partners find antibodies for a range of therapeutic targets and applications.