Charles Schwab Investment Management Inc. Has $2.90 Million Holdings in OmniAb, Inc. (NASDAQ:OABI)

Charles Schwab Investment Management Inc. raised its position in shares of OmniAb, Inc. (NASDAQ:OABI) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 819,708 shares of the company’s stock after acquiring an additional 32,186 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.58% of OmniAb worth $2,902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OABI. Choreo LLC bought a new stake in OmniAb in the 4th quarter valued at $41,000. SG Americas Securities LLC lifted its holdings in shares of 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 grew its stake in shares of OmniAb by 1.2% in the fourth quarter. Woodstock Corp now owns 802,578 shares of the company’s stock valued at $2,841,000 after acquiring an additional 9,725 shares in the last quarter. Barclays PLC increased its position in OmniAb by 321.5% during the third quarter. Barclays PLC now owns 143,215 shares of the company’s stock worth $606,000 after acquiring an additional 109,236 shares during the period. Finally, State Street Corp raised its stake in OmniAb by 1.7% in the 3rd quarter. State Street Corp now owns 2,031,676 shares of the company’s stock worth $8,594,000 after purchasing an additional 34,654 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

OmniAb Trading Up 1.6 %

NASDAQ OABI opened at $2.47 on Friday. OmniAb, Inc. has a 1 year low of $2.23 and a 1 year high of $5.54. The firm has a market capitalization of $348.80 million, a price-to-earnings ratio of -3.98 and a beta of -0.14. The firm’s 50 day simple moving average is $3.28 and its 200 day simple moving average is $3.72.

OmniAb (NASDAQ:OABI) last issued its earnings results on Tuesday, March 18th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The firm had revenue of $10.80 million for the quarter, compared to the consensus estimate 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 last year, the business posted ($0.14) EPS. On average, equities research analysts forecast that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Insider Transactions at OmniAb

In other news, Director John L. Higgins purchased 125,750 shares of OmniAb stock in a transaction dated Thursday, March 20th. The shares were bought at an average cost of $2.35 per share, for a total transaction of $295,512.50. Following the completion of the acquisition, the director now owns 2,762,887 shares in the company, valued at approximately $6,492,784.45. This trade represents a 4.77 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew W. Foehr sold 13,964 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $3.68, for a total value of $51,387.52. Following the completion of the transaction, the chief executive officer now directly owns 3,798,682 shares of the company’s stock, valued at $13,979,149.76. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,260 shares of company stock valued at $376,601. 8.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

OABI has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of OmniAb in a research report on Wednesday, March 19th. Benchmark reduced their price target on OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Finally, Royal Bank of Canada cut their target price on OmniAb from $7.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday.

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.