Bank of New York Mellon Corp Sells 63,047 Shares of OmniAb, Inc. (NASDAQ:OABI)

Bank of New York Mellon Corp lessened its stake in shares of OmniAb, Inc. (NASDAQ:OABI) by 19.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 259,171 shares of the company’s stock after selling 63,047 shares during the period. Bank of New York Mellon Corp owned 0.18% of OmniAb worth $917,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in OmniAb by 16.5% during the fourth quarter. SG Americas Securities LLC now owns 40,609 shares of the company’s stock worth $144,000 after buying an additional 5,751 shares in the last quarter. Woodstock Corp lifted its holdings in shares of OmniAb by 1.2% during the 4th quarter. Woodstock Corp now owns 802,578 shares of the company’s stock worth $2,841,000 after acquiring an additional 9,725 shares during the period. Choreo LLC acquired a new stake in shares of OmniAb during the 4th quarter worth approximately $41,000. FMR LLC increased its stake in OmniAb by 10.6% in the third quarter. FMR LLC now owns 138,813 shares of the company’s stock valued at $587,000 after acquiring an additional 13,324 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in OmniAb during the third quarter valued at approximately $61,000. 72.08% of the stock is owned by institutional investors and hedge funds.

OmniAb Stock Performance

NASDAQ OABI opened at $2.44 on Wednesday. The firm’s fifty day moving average price is $3.31 and its two-hundred day moving average price is $3.74. The stock has a market cap of $344.57 million, a PE ratio of -3.94 and a beta of -0.14. OmniAb, Inc. has a fifty-two week low of $2.23 and a fifty-two week high of $5.54.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $10.80 million for the quarter, compared to analyst estimates of $10.13 million. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. During the same quarter in the previous year, the company posted ($0.14) EPS. As a group, sell-side analysts predict that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of OmniAb in a report on Wednesday, March 19th. Benchmark decreased their target price on OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th.

Insider Transactions at OmniAb

In other news, CEO Matthew W. Foehr sold 41,811 shares of OmniAb stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $3.24, for a total transaction of $135,467.64. Following the transaction, the chief executive officer now owns 3,749,639 shares in the company, valued at approximately $12,148,830.36. The trade was a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurt A. Gustafson sold 7,255 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $3.67, for a total value of $26,625.85. Following the completion of the sale, the chief financial officer now owns 206,211 shares of the company’s stock, valued at $756,794.37. The trade was a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,260 shares of company stock worth $376,601. Insiders own 8.60% of the company’s stock.

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.