The Manufacturers Life Insurance Company Invests $147,000 in OmniAb, Inc. (NASDAQ:OABI)

The Manufacturers Life Insurance Company acquired a new stake in OmniAb, Inc. (NASDAQ:OABI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 39,103 shares of the company’s stock, valued at approximately $147,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hartline Investment Corp purchased a new stake in OmniAb in the first quarter valued at approximately $54,000. Catalina Capital Group LLC acquired a new stake in shares of OmniAb in the first quarter valued at $69,000. Towerview LLC raised its holdings in shares of OmniAb by 42.9% in the 1st quarter. Towerview LLC now owns 250,000 shares of the company’s stock valued at $1,355,000 after buying an additional 75,000 shares during the period. Isthmus Partners LLC lifted its stake in OmniAb by 23.9% during the 1st quarter. Isthmus Partners LLC now owns 384,998 shares of the company’s stock worth $2,087,000 after acquiring an additional 74,224 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in OmniAb by 80.9% during the 1st quarter. Bleakley Financial Group LLC now owns 34,250 shares of the company’s stock valued at $186,000 after acquiring an additional 15,321 shares during the period. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

OmniAb Stock Up 0.2 %

Shares of NASDAQ:OABI opened at $4.08 on Friday. The company has a market cap of $479.87 million, a price-to-earnings ratio of -6.38 and a beta of -0.13. OmniAb, Inc. has a fifty-two week low of $3.56 and a fifty-two week high of $6.72. The firm’s 50-day simple moving average is $4.19 and its 200-day simple moving average is $4.37.

OmniAb (NASDAQ:OABI) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.05. OmniAb had a negative net margin of 287.29% and a negative return on equity of 20.21%. The business had revenue of $7.61 million for the quarter, compared to analyst estimates of $6.52 million. During the same period in the prior year, the business earned ($0.15) earnings per share. On average, research analysts forecast that OmniAb, Inc. will post -0.58 EPS for the current year.

Analysts Set New Price Targets

OABI has been the topic of several research reports. Benchmark reissued a “buy” rating and set a $8.00 price target on shares of OmniAb in a research report on Monday, August 19th. HC Wainwright reiterated a “buy” rating and set a $11.00 target price on shares of OmniAb in a report on Monday, August 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $7.00 target price on shares of OmniAb in a report on Friday, August 16th.

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.