OmniAb, Inc. (NASDAQ:OABI) Shares Sold by Chicago Capital LLC

Chicago Capital LLC decreased its position in OmniAb, Inc. (NASDAQ:OABI) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,182,970 shares of the company’s stock after selling 4,382 shares during the quarter. Chicago Capital LLC’s holdings in OmniAb were worth $11,936,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hartline Investment Corp acquired a new position in shares of OmniAb in the 1st quarter worth approximately $54,000. Bellevue Group AG acquired a new position in OmniAb during the 1st quarter valued at approximately $62,000. Cape Investment Advisory Inc. acquired a new position in OmniAb during the 4th quarter valued at approximately $64,000. Catalina Capital Group LLC acquired a new position in OmniAb during the 1st quarter valued at approximately $69,000. Finally, Victory Capital Management Inc. boosted its position in OmniAb by 22.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,705 shares of the company’s stock valued at $78,000 after purchasing an additional 2,364 shares during the period. Institutional investors and hedge funds own 72.08% of the company’s stock.

OmniAb Price Performance

Shares of OABI traded down $0.14 during midday trading on Friday, reaching $3.97. The stock had a trading volume of 549,874 shares, compared to its average volume of 538,428. OmniAb, Inc. has a 52 week low of $3.56 and a 52 week high of $6.72. The firm’s 50 day moving average price is $4.29 and its 200-day moving average price is $4.65. The company has a market capitalization of $466.93 million, a P/E ratio of -6.20 and a beta of -0.13.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OABI shares. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research report on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $7.00 target price on shares of OmniAb in a research note on Friday, August 16th. Finally, Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of OmniAb in a research note on Monday, August 19th.

OmniAb 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.