Mesirow Financial Investment Management Inc. Lowers Stake in OmniAb, Inc. (NASDAQ:OABI)

Mesirow Financial Investment Management Inc. lessened its holdings in shares of OmniAb, Inc. (NASDAQ:OABI) by 23.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,947 shares of the company’s stock after selling 11,046 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in OmniAb were worth $200,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. acquired a new stake in shares of OmniAb during the 4th quarter valued at about $38,000. Cape Investment Advisory Inc. purchased a new position in OmniAb in the 4th quarter worth approximately $64,000. Victory Capital Management Inc. lifted its stake in OmniAb by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,705 shares of the company’s stock worth $78,000 after purchasing an additional 2,364 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in OmniAb in the 4th quarter worth approximately $83,000. Finally, Clear Street Markets LLC purchased a new position in OmniAb in the 4th quarter worth approximately $100,000. 72.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OABI has been the subject of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $7.00 price objective on shares of OmniAb in a research report on Thursday, March 21st. Truist Financial reaffirmed a “buy” rating and set a $10.00 price objective on shares of OmniAb in a research report on Tuesday, March 26th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research report on Thursday, March 21st. Finally, Benchmark reissued a “buy” rating and issued a $8.00 price target on shares of OmniAb in a research report on Tuesday, May 14th.

OmniAb Stock Down 0.5 %

Shares of OABI stock traded down $0.02 during trading hours on Wednesday, hitting $3.65. The company’s stock had a trading volume of 296,995 shares, compared to its average volume of 540,514. The business has a fifty day moving average of $4.34 and a 200-day moving average of $5.19. OmniAb, Inc. has a twelve month low of $3.61 and a twelve month high of $6.72.

OmniAb (NASDAQ:OABI) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The firm had revenue of $3.80 million for the quarter, compared to analysts’ expectations of $6.00 million. OmniAb had a negative net margin of 301.62% and a negative return on equity of 19.93%. During the same period in the previous year, the company posted ($0.06) EPS. Equities analysts expect that OmniAb, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Transactions at OmniAb

In other OmniAb news, CEO Matthew W. Foehr acquired 240,000 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $4.42 per share, with a total value of $1,060,800.00. Following the completion of the transaction, the chief executive officer now directly owns 3,536,665 shares of the company’s stock, valued at $15,632,059.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Matthew W. Foehr purchased 240,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average cost of $4.42 per share, with a total value of $1,060,800.00. Following the acquisition, the chief executive officer now owns 3,536,665 shares in the company, valued at $15,632,059.30. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kurt A. Gustafson sold 6,954 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $5.27, for a total transaction of $36,647.58. Following the sale, the chief financial officer now directly owns 176,697 shares of the company’s stock, valued at $931,193.19. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.

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.