Price T Rowe Associates Inc. MD buys 3,108 shares of OmniAb, Inc. (NASDAQ:OABI)

Price T Rowe Associates Inc. MD increased its stake in OmniAb, Inc. (NASDAQ:OABI – Free Report) by 13.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,843 shares of the company’s stock after purchasing an additional 3,108 shares during the period. Price T Rowe Associates Inc Holdings MD’s holdings in OmniAb were worth $146,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have added to or reduced their stakes in OABI. Mirae Asset Global Investments Co. Ltd. boosted its stake in OmniAb by 8.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,903 shares of the company’s stock valued at $234,000 after buying an additional 2,902 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of OmniAb during the fourth quarter valued at $546,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in OmniAb by 56.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,772 shares of the company’s stock valued at $116,000 after acquiring an additional 6,755 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of OmniAb during the fourth quarter valued at $38,000. Finally, Towerview LLC boosted its stake in OmniAb by 59.1% during the fourth quarter. Towerview LLC now owns 175,000 shares of the company’s stock valued at $1,080,000 after acquiring an additional 65,000 shares in the last quarter. Institutional investors own 72.08% of the company’s shares.

OmniAb stock down 0.9%

OABI opened at $4.18 on Friday. OmniAb, Inc. has a 12-month low of $3.56 and a 12-month high of $6.72. The company has a fifty day moving average of $4.27 and a 200 day moving average of $4.80. The stock has a market cap of $491.63 million, a PE ratio of -6.53 and a beta of -0.11.

OmniAb (NASDAQ:OABI – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.05. The company had revenue of $7.61 million during the quarter, compared to analysts’ expectations of $6.52 million. OmniAb had a negative net margin of 301.62% and a negative return on equity of 19.93%. During the same period last year, the company posted ($0.15) earnings per share. Sell-side analysts anticipate that OmniAb, Inc. will record -0.66 EPS for the current fiscal year.

Analysts set new price targets

OABI has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of OmniAb in a research note on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $7.00 target price on shares of OmniAb in a research note on Friday. Finally, Benchmark reiterated a “buy” rating and set a $8.00 price objective on shares of OmniAb in a research report on Tuesday, May 14th.

Check out our latest analysis of OABI

Insiders place their bets

In related news, CEO Matthew W. Foehr acquired 240,000 shares of OmniAb stock in a transaction on Friday, May 24th. The shares were acquired at an average cost of $4.42 per share, for a total transaction of $1,060,800.00. Following the completion of the acquisition, the chief executive officer now owns 3,536,665 shares of the company’s stock, valued at approximately $15,632,059.30. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.60% of the company’s shares.

OmniAb Company Profile

(Free Report)

OmniAb, Inc, a biotechnology company, is engaged in the discovery and delivery of therapeutic antibody discovery technologies in the United States. The company’s technology platform creates and analyzes diverse antibody repertoires and identifies optimal antibodies for partners’ drug development efforts.

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