Rice Hall James & Associates LLC Cuts Stake in OmniAb, Inc. (NASDAQ:OABI)

Rice Hall James & Associates LLC lowered its holdings in shares of OmniAb, Inc. (NASDAQ:OABI) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,649,007 shares of the company’s stock after selling 73,314 shares during the quarter. Rice Hall James & Associates LLC owned approximately 1.88% of OmniAb worth $9,377,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OABI. SG Americas Securities LLC grew its position in shares of OmniAb by 105.6% during the third quarter. SG Americas Securities LLC now owns 34,858 shares of the company’s stock worth $147,000 after purchasing an additional 17,901 shares in the last quarter. CWC Advisors LLC. purchased a new position in OmniAb during the 3rd quarter valued at approximately $54,000. China Universal Asset Management Co. Ltd. grew its holdings in OmniAb by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,727 shares of the company’s stock valued at $96,000 after buying an additional 8,909 shares in the last quarter. Palumbo Wealth Management LLC grew its holdings in OmniAb by 12.5% during the 3rd quarter. Palumbo Wealth Management LLC now owns 24,640 shares of the company’s stock valued at $104,000 after buying an additional 2,744 shares in the last quarter. Finally, Atria Investments Inc purchased a new position in OmniAb during the 3rd quarter valued at approximately $148,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Insider Transactions at OmniAb

In related news, CEO Matthew W. Foehr sold 41,811 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total transaction of $135,467.64. Following the completion of the sale, the chief executive officer now directly owns 3,749,639 shares of the company’s stock, valued at approximately $12,148,830.36. This trade represents a 1.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurt A. Gustafson sold 15,526 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total value of $50,304.24. Following the sale, the chief financial officer now directly owns 212,720 shares of the company’s stock, valued at $689,212.80. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,826 shares of company stock worth $268,356. 8.60% of the stock is currently owned by company insiders.

OmniAb Stock Performance

Shares of OmniAb stock opened at $3.81 on Tuesday. The stock has a market cap of $538.05 million, a price-to-earnings ratio of -6.15 and a beta of -0.12. The stock has a 50 day moving average price of $3.50 and a 200-day moving average price of $3.92. OmniAb, Inc. has a one year low of $3.10 and a one year high of $6.55.

Analyst Ratings Changes

Several research firms have weighed in on OABI. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of OmniAb in a report on Thursday, November 14th. Benchmark restated a “buy” rating and set a $8.00 price target on shares of OmniAb in a report on Thursday, November 14th.

About OmniAb

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.