Charles Schwab Investment Management Inc. Buys 32,186 Shares of OmniAb, Inc. (NASDAQ:OABI)

Charles Schwab Investment Management Inc. lifted its stake in shares of OmniAb, Inc. (NASDAQ:OABI) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 819,708 shares of the company’s stock after acquiring an additional 32,186 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in OmniAb were worth $2,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its holdings in OmniAb by 1.7% during 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 during the last quarter. Murchinson Ltd. acquired a new stake in shares of OmniAb during the third quarter worth $4,230,000. Woodstock Corp raised its stake in OmniAb by 1.2% during the fourth quarter. Woodstock Corp now owns 802,578 shares of the company’s stock worth $2,841,000 after buying an additional 9,725 shares during the last quarter. Barclays PLC lifted its holdings in OmniAb by 321.5% in the third quarter. Barclays PLC now owns 143,215 shares of the company’s stock valued at $606,000 after buying an additional 109,236 shares during the period. Finally, FMR LLC boosted its position in OmniAb by 10.6% during 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. 72.08% of the stock is owned by institutional investors and hedge funds.

OmniAb Price Performance

Shares of OmniAb stock opened at $2.47 on Friday. The business has a 50-day simple moving average of $3.28 and a 200 day simple moving average of $3.72. OmniAb, Inc. has a one year low of $2.23 and a one 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.

OmniAb (NASDAQ:OABI) last issued its earnings results 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. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. The company had revenue of $10.80 million for the quarter, compared to analyst estimates of $10.13 million. During the same period in the prior year, the firm earned ($0.14) earnings per share. On average, sell-side analysts expect that OmniAb, Inc. will post -0.61 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at OmniAb

In related news, insider Charles S. Berkman sold 25,489 shares of the firm’s 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 transaction, the insider now owns 343,190 shares of the company’s stock, valued at approximately $1,111,935.60. This trade represents a 6.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Higgins purchased 125,750 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $2.35 per share, with a total value of $295,512.50. Following the purchase, the director now directly owns 2,762,887 shares in the company, valued at approximately $6,492,784.45. The trade was a 4.77 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 112,260 shares of company stock valued at $376,601. Corporate 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.