OmniAb, Inc. $OABI Shares Sold by Woodstock Corp

Woodstock Corp lowered its holdings in shares of OmniAb, Inc. (NASDAQ:OABI) by 43.4% during the third quarter, HoldingsChannel.com reports. The firm owned 351,753 shares of the company’s stock after selling 269,931 shares during the period. Woodstock Corp’s holdings in OmniAb were worth $563,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in OABI. Nuveen LLC acquired a new position in shares of OmniAb during the 1st quarter worth approximately $547,000. Public Employees Retirement System of Ohio acquired a new position in OmniAb during the second quarter worth $168,000. PNC Financial Services Group Inc. raised its position in OmniAb by 279.4% during the first quarter. PNC Financial Services Group Inc. now owns 16,276 shares of the company’s stock worth $39,000 after acquiring an additional 11,986 shares during the period. Connors Investor Services Inc. lifted its holdings in OmniAb by 25.0% during the second quarter. Connors Investor Services Inc. now owns 62,000 shares of the company’s stock valued at $108,000 after purchasing an additional 12,389 shares in the last quarter. Finally, Towerview LLC grew its position in shares of OmniAb by 43.3% in the second quarter. Towerview LLC now owns 831,100 shares of the company’s stock valued at $1,446,000 after purchasing an additional 251,100 shares during the period. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other OmniAb news, Director John L. Higgins acquired 41,038 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average price of $1.38 per share, with a total value of $56,632.44. Following the purchase, the director owned 2,929,148 shares in the company, valued at approximately $4,042,224.24. The trade was a 1.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew W. Foehr sold 13,666 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $1.96, for a total transaction of $26,785.36. Following the completion of the sale, the chief executive officer owned 4,360,083 shares of the company’s stock, valued at approximately $8,545,762.68. The trade was a 0.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 45,632 shares of company stock worth $89,439. 8.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of OmniAb in a research report on Monday, December 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

OmniAb Stock Performance

NASDAQ OABI opened at $2.05 on Wednesday. The business has a fifty day moving average price of $1.71 and a 200 day moving average price of $1.74. The company has a market cap of $295.12 million, a P/E ratio of -3.53 and a beta of 0.13. OmniAb, Inc. has a one year low of $1.22 and a one year high of $4.02.

OmniAb (NASDAQ:OABI) last released its earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $2.24 million during the quarter, compared to analyst estimates of $5.64 million. OmniAb had a negative net margin of 301.83% and a negative return on equity of 23.14%. As a group, sell-side analysts predict that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

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.