Northeast Financial Consultants Inc Takes $393,000 Position in OmniAb, Inc. (NASDAQ:OABI)

Northeast Financial Consultants Inc acquired a new position in shares of OmniAb, Inc. (NASDAQ:OABI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 110,996 shares of the company’s stock, valued at approximately $393,000.

Several other hedge funds have also modified their holdings of OABI. Barclays PLC grew its position in OmniAb by 321.5% during the third quarter. Barclays PLC now owns 143,215 shares of the company’s stock valued at $606,000 after acquiring an additional 109,236 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of OmniAb by 582.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,001,797 shares of the company’s stock worth $3,546,000 after purchasing an additional 854,929 shares during the period. Geode Capital Management LLC increased its position in OmniAb by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,353,442 shares of the company’s stock worth $8,333,000 after purchasing an additional 28,061 shares in the last quarter. Choreo LLC purchased a new position in OmniAb in the fourth quarter valued at approximately $41,000. Finally, Charles Schwab Investment Management Inc. lifted its position in OmniAb by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 819,708 shares of the company’s stock valued at $2,902,000 after buying an additional 32,186 shares in the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

OmniAb Trading Down 2.1%

OABI stock opened at $1.40 on Wednesday. The firm has a market cap of $170.99 million, a P/E ratio of -2.26 and a beta of 0.10. The stock’s 50 day simple moving average is $2.17 and its 200 day simple moving average is $3.17. OmniAb, Inc. has a 12-month low of $1.35 and a 12-month high of $4.96.

OmniAb (NASDAQ:OABI) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17). The business had revenue of $4.15 million during the quarter, compared to analyst estimates of $4.49 million. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. On average, research analysts forecast that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling at OmniAb

In related news, Director John L. Higgins purchased 65,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $1.44 per share, with a total value of $93,600.00. Following the acquisition, the director now owns 2,831,887 shares in the company, valued at approximately $4,077,917.28. This trade represents a 2.35% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew W. Foehr sold 13,964 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $3.68, for a total value of $51,387.52. Following the transaction, the chief executive officer now owns 3,798,682 shares of the company’s stock, valued at approximately $13,979,149.76. The trade was a 0.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,985 shares of company stock worth $189,773 over the last ninety days. Company insiders own 8.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on OABI. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a research report on Wednesday, March 19th. Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of OmniAb in a research note on Monday. Finally, Royal Bank of Canada dropped their price target on shares of OmniAb from $7.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, March 27th.

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.