JPMorgan Chase & Co. Sells 16,670 Shares of OmniAb, Inc. (NASDAQ:OABI)

JPMorgan Chase & Co. lowered its stake in OmniAb, Inc. (NASDAQ:OABI) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,868 shares of the company’s stock after selling 16,670 shares during the period. JPMorgan Chase & Co. owned 0.10% of OmniAb worth $621,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in OABI. American Century Companies Inc. boosted its holdings in OmniAb by 52.7% in the second quarter. American Century Companies Inc. now owns 110,036 shares of the company’s stock valued at $413,000 after acquiring an additional 37,963 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in OmniAb by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,012,216 shares of the company’s stock valued at $11,296,000 after acquiring an additional 194,835 shares in the last quarter. Sei Investments Co. boosted its holdings in OmniAb by 11.0% in the second quarter. Sei Investments Co. now owns 29,024 shares of the company’s stock valued at $109,000 after acquiring an additional 2,888 shares in the last quarter. Squarepoint Ops LLC bought a new stake in OmniAb in the second quarter valued at $449,000. Finally, The Manufacturers Life Insurance Company bought a new stake in OmniAb in the second quarter valued at $147,000. Institutional investors own 72.08% of the company’s stock.

OmniAb Trading Up 5.3 %

Shares of OmniAb stock opened at $3.37 on Tuesday. The firm has a market capitalization of $475.90 million, a P/E ratio of -5.44 and a beta of -0.10. The business has a fifty day simple moving average of $3.64 and a two-hundred day simple moving average of $4.05. OmniAb, Inc. has a 12 month low of $3.11 and a 12 month high of $6.55.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Benchmark reissued a “buy” rating and set a $8.00 price objective on shares of OmniAb in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research report on Thursday, November 14th.

Insider Transactions at OmniAb

In other news, CFO Kurt A. Gustafson sold 15,526 shares of OmniAb stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total value of $50,304.24. Following the completion of the transaction, the chief financial officer now owns 212,720 shares of the company’s stock, valued at $689,212.80. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles S. Berkman sold 25,489 shares of OmniAb stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total value of $82,584.36. Following the completion of the transaction, the insider now directly owns 343,190 shares of the company’s stock, valued at approximately $1,111,935.60. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,826 shares of company stock valued at $268,356 in the last quarter. 8.60% of the stock is owned by insiders.

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.