Royce & Associates LP Buys 575,796 Shares of OmniAb, Inc. (NASDAQ:OABI)

Royce & Associates LP grew its position in OmniAb, Inc. (NASDAQ:OABI) by 438.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 707,080 shares of the company’s stock after purchasing an additional 575,796 shares during the quarter. Royce & Associates LP owned approximately 0.50% of OmniAb worth $2,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of OABI. Choreo LLC acquired a new position in shares of OmniAb during the 4th quarter worth about $41,000. Walleye Capital LLC bought a new position in OmniAb in the 3rd quarter worth approximately $61,000. Intech Investment Management LLC acquired a new position in shares of OmniAb during the third quarter worth approximately $70,000. PDT Partners LLC bought a new stake in shares of OmniAb in the third quarter valued at approximately $123,000. Finally, Atria Investments Inc bought a new stake in shares of OmniAb in the third quarter valued at approximately $148,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

OmniAb Trading Down 10.6 %

OABI opened at $2.27 on Friday. The stock’s 50 day simple moving average is $3.36 and its 200-day simple moving average is $3.78. The stock has a market cap of $320.56 million, a PE ratio of -3.66 and a beta of -0.14. OmniAb, Inc. has a 1 year low of $2.23 and a 1 year high of $5.72.

OmniAb (NASDAQ:OABI) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. The firm had revenue of $10.80 million for the quarter, compared to the consensus estimate of $10.13 million. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Equities analysts forecast that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

Insider Activity

In other OmniAb news, insider Charles S. Berkman sold 25,489 shares of OmniAb 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 $82,584.36. Following the sale, the insider now directly owns 343,190 shares of the company’s stock, valued at approximately $1,111,935.60. The trade was a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kurt A. Gustafson sold 7,255 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $3.67, for a total value of $26,625.85. Following the completion of the transaction, the chief financial officer now directly owns 206,211 shares of the company’s stock, valued at approximately $756,794.37. The trade was a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,260 shares of company stock worth $376,601. Corporate insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

OABI has been the topic of a number of research reports. Benchmark dropped their target price on shares of OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a report on Wednesday.

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.