Whitefort Capital Management LP Takes $25.21 Billion Position in OmniAb, Inc. $OABI

Whitefort Capital Management LP purchased a new stake in shares of OmniAb, Inc. (NASDAQ:OABI) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,248,658 shares of the company’s stock, valued at approximately $25,211,699,000. OmniAb comprises approximately 6.2% of Whitefort Capital Management LP’s investment portfolio, making the stock its 7th largest holding. Whitefort Capital Management LP owned 7.08% of OmniAb at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC bought a new stake in shares of OmniAb in the 1st quarter worth approximately $25,000. Jane Street Group LLC raised its holdings in shares of OmniAb by 26.3% during the first quarter. Jane Street Group LLC now owns 80,778 shares of the company’s stock valued at $194,000 after acquiring an additional 16,823 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in OmniAb by 28.3% in the second quarter. JPMorgan Chase & Co. now owns 793,734 shares of the company’s stock worth $1,381,000 after acquiring an additional 175,297 shares during the period. Rhumbline Advisers lifted its stake in OmniAb by 6.0% in the second quarter. Rhumbline Advisers now owns 160,728 shares of the company’s stock worth $280,000 after acquiring an additional 9,163 shares during the period. Finally, Invesco Ltd. boosted its holdings in OmniAb by 17.0% in the second quarter. Invesco Ltd. now owns 109,613 shares of the company’s stock valued at $191,000 after acquiring an additional 15,912 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Weiss Ratings raised shares of OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of OmniAb in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.00.

OmniAb Stock Down 1.1%

NASDAQ OABI opened at $4.66 on Wednesday. OmniAb, Inc. has a twelve month low of $1.30 and a twelve month high of $4.78. The firm has a market capitalization of $674.67 million, a PE ratio of -12.94 and a beta of 0.45. The stock’s 50 day moving average is $2.63 and its 200 day moving average is $2.13.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. The company had revenue of $13.41 million for the quarter, compared to analysts’ expectations of $4.69 million. OmniAb had a negative return on equity of 16.59% and a negative net margin of 115.12%. On average, research analysts anticipate that OmniAb, Inc. will post -0.35 earnings per share for the current year.

OmniAb Profile

OmniAb, Inc (NASDAQ: OABI) operates as a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s integrated antibody discovery platform combines proprietary transgenic animal models, in vitro screening, and in silico engineering to accelerate lead identification and optimization. OmniAb offers both fee-for-service collaborations and license agreements, enabling biopharmaceutical partners to leverage its suite of technologies for programs spanning oncology, immunology, and other therapeutic areas.

Founded in 2016 and headquartered in Seattle, Washington, OmniAb went public in May 2021.