OmniAb, Inc. (NASDAQ:OABI) Shares Sold by Orchard Capital Management LLC

Orchard Capital Management LLC lessened its position in shares of OmniAb, Inc. (NASDAQ:OABI) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,358,028 shares of the company’s stock after selling 15,470 shares during the period. Orchard Capital Management LLC owned about 1.15% of OmniAb worth $5,093,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in OmniAb by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,012,216 shares of the company’s stock worth $11,296,000 after acquiring an additional 194,835 shares in the last quarter. American Century Companies Inc. grew its holdings in OmniAb by 52.7% during the 2nd quarter. American Century Companies Inc. now owns 110,036 shares of the company’s stock worth $413,000 after acquiring an additional 37,963 shares in the last quarter. Isthmus Partners LLC boosted its holdings in shares of OmniAb by 37.2% in the 2nd quarter. Isthmus Partners LLC now owns 528,385 shares of the company’s stock valued at $1,981,000 after buying an additional 143,387 shares in the last quarter. Towerview LLC boosted its holdings in shares of OmniAb by 114.0% in the 2nd quarter. Towerview LLC now owns 535,000 shares of the company’s stock valued at $2,006,000 after buying an additional 285,000 shares in the last quarter. Finally, Simplicity Wealth LLC boosted its holdings in shares of OmniAb by 23.3% in the 2nd quarter. Simplicity Wealth LLC now owns 42,160 shares of the company’s stock valued at $158,000 after buying an additional 7,976 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OABI. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of OmniAb in a report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and issued a $7.00 target price on shares of OmniAb in a report on Friday, August 16th. Finally, Benchmark restated a “buy” rating and issued a $8.00 target price on shares of OmniAb in a report on Monday, August 19th.

OmniAb Price Performance

Shares of NASDAQ:OABI opened at $4.73 on Friday. The stock has a market cap of $556.32 million, a P/E ratio of -7.39 and a beta of -0.13. The firm has a fifty day moving average price of $4.39 and a 200 day moving average price of $4.57. OmniAb, Inc. has a 1-year low of $3.56 and a 1-year high of $6.72.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. The firm had revenue of $7.61 million during the quarter, compared to analysts’ expectations of $6.52 million. OmniAb had a negative net margin of 287.29% and a negative return on equity of 20.21%. During the same quarter in the prior year, the business earned ($0.15) EPS. Sell-side analysts expect that OmniAb, Inc. will post -0.58 EPS for the current fiscal year.

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.