Knott David M Jr Sells 54,000 Shares of OmniAb, Inc. (NASDAQ:OABI)

Knott David M Jr lessened its stake in shares of OmniAb, Inc. (NASDAQ:OABI) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,094,505 shares of the company’s stock after selling 54,000 shares during the period. OmniAb accounts for about 1.4% of Knott David M Jr’s investment portfolio, making the stock its 12th biggest holding. Knott David M Jr’s holdings in OmniAb were worth $3,875,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Choreo LLC purchased a new position in shares of OmniAb in the fourth quarter worth $41,000. KLP Kapitalforvaltning AS bought a new stake in OmniAb in the 4th quarter valued at $49,000. Walleye Capital LLC purchased a new stake in OmniAb in the 3rd quarter worth $61,000. Intech Investment Management LLC bought a new position in shares of OmniAb during the 3rd quarter valued at about $70,000. Finally, PDT Partners LLC purchased a new position in shares of OmniAb during the third quarter valued at about $123,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

OmniAb Price Performance

Shares of NASDAQ OABI opened at $2.40 on Tuesday. The stock has a market capitalization of $293.12 million, a P/E ratio of -3.87 and a beta of -0.14. OmniAb, Inc. has a 1-year low of $2.23 and a 1-year high of $5.54. The business’s 50 day moving average is $3.25 and its two-hundred day moving average is $3.69.

OmniAb (NASDAQ:OABI) last released its earnings results on Tuesday, March 18th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.01. The firm had revenue of $10.80 million for the quarter, compared to the consensus estimate 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 in the previous year, the company posted ($0.14) EPS. As a group, equities research analysts anticipate that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Charles S. Berkman sold 25,489 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $3.24, for a total value of $82,584.36. Following the sale, the insider now directly owns 343,190 shares of the company’s stock, valued at $1,111,935.60. This represents a 6.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kurt A. Gustafson sold 7,255 shares of the business’s 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 transaction, the chief financial officer now owns 206,211 shares of the company’s stock, valued at $756,794.37. This trade represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,260 shares of company stock valued at $376,601. 8.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Benchmark dropped their price target on OmniAb from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Royal Bank of Canada lowered their target price on OmniAb from $7.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, March 27th. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of OmniAb in a research report on Wednesday, March 19th.

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.