ADAR1 Capital Management LLC Has $985,000 Stock Position in OmniAb, Inc. (NASDAQ:OABI)

ADAR1 Capital Management LLC trimmed its position in OmniAb, Inc. (NASDAQ:OABI) by 79.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 278,108 shares of the company’s stock after selling 1,059,194 shares during the period. ADAR1 Capital Management LLC owned about 0.20% of OmniAb worth $985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Choreo LLC bought a new stake in OmniAb during the fourth quarter valued at $41,000. Rangeley Capital LLC bought a new stake in shares of OmniAb during the 4th quarter valued at about $41,000. KLP Kapitalforvaltning AS purchased a new position in shares of OmniAb during the 4th quarter worth approximately $49,000. Walleye Capital LLC purchased a new stake in OmniAb in the third quarter worth $61,000. Finally, Intech Investment Management LLC purchased a new position in OmniAb during the 3rd quarter valued at about $70,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Insider Activity at OmniAb

In other news, insider Charles S. Berkman sold 25,489 shares of OmniAb stock in a transaction dated Tuesday, January 21st. The shares were 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. The trade was a 6.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kurt A. Gustafson sold 7,255 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $3.67, for a total transaction of $26,625.85. Following the sale, the chief financial officer now owns 206,211 shares in the company, valued at $756,794.37. This trade represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,223 shares of company stock worth $404,953 over the last 90 days. Company insiders own 8.60% of the company’s stock.

OmniAb Trading Down 6.3 %

OABI opened at $2.09 on Monday. The firm has a market cap of $255.26 million, a price-to-earnings ratio of -3.37 and a beta of 0.06. OmniAb, Inc. has a 12-month low of $2.01 and a 12-month high of $5.45. The stock’s 50-day moving average price is $3.17 and its 200 day moving average price is $3.62.

OmniAb (NASDAQ:OABI) last posted its earnings results on Tuesday, March 18th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. The firm had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $10.13 million. During the same quarter in the previous year, the business earned ($0.14) earnings per share. On average, research analysts forecast that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on OABI shares. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of OmniAb in a research report on Wednesday, March 19th. Benchmark cut their price target on shares of OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Finally, Royal Bank of Canada decreased their price objective on OmniAb from $7.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, March 27th.

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.