OmniAb, Inc. (NASDAQ:OABI) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its position in OmniAb, Inc. (NASDAQ:OABI) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 162,703 shares of the company’s stock after selling 9,000 shares during the period. Swiss National Bank’s holdings in OmniAb were worth $576,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in OmniAb in the third quarter worth about $70,000. Charles Schwab Investment Management Inc. raised its holdings in shares of OmniAb by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 787,522 shares of the company’s stock worth $3,331,000 after purchasing an additional 16,219 shares in the last quarter. FMR LLC lifted its stake in OmniAb by 10.6% during the third quarter. FMR LLC now owns 138,813 shares of the company’s stock valued at $587,000 after purchasing an additional 13,324 shares during the last quarter. Walleye Capital LLC bought a new stake in OmniAb during the third quarter worth approximately $61,000. Finally, PDT Partners LLC acquired a new position in OmniAb in the third quarter worth approximately $123,000. 72.08% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Kurt A. Gustafson sold 7,255 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $3.67, for a total value of $26,625.85. Following the completion of the sale, the chief financial officer now directly owns 206,211 shares of the company’s stock, valued at $756,794.37. This represents a 3.40 % 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, CEO Matthew W. Foehr sold 13,964 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $3.68, for a total transaction of $51,387.52. Following the sale, the chief executive officer now owns 3,798,682 shares of the company’s stock, valued at approximately $13,979,149.76. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,260 shares of company stock worth $376,601. 8.60% of the stock is currently owned by company insiders.

OmniAb Stock Performance

OmniAb stock opened at $2.42 on Monday. OmniAb, Inc. has a 52 week low of $2.23 and a 52 week high of $5.54. The firm has a market capitalization of $341.74 million, a price-to-earnings ratio of -3.90 and a beta of -0.14. The company has a 50 day moving average price of $3.26 and a 200 day moving average price of $3.70.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank of Canada cut their price objective on OmniAb from $7.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of OmniAb in a research report on Wednesday, March 19th. Finally, Benchmark dropped their price target on OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th.

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.