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

ADAR1 Capital Management LLC trimmed its stake in OmniAb, Inc. (NASDAQ:OABI) by 79.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 278,108 shares of the company’s stock after selling 1,059,194 shares during the period. ADAR1 Capital Management LLC’s holdings in OmniAb were worth $985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OABI. Choreo LLC bought a new stake in OmniAb during the 4th quarter worth about $41,000. Rangeley Capital LLC bought a new stake in OmniAb in the 4th quarter valued at $41,000. KLP Kapitalforvaltning AS bought a new position in shares of OmniAb during the fourth quarter worth about $49,000. Walleye Capital LLC bought a new stake in OmniAb during the 3rd quarter worth about $61,000. Finally, Intech Investment Management LLC bought a new stake in shares of OmniAb in the 3rd quarter valued at about $70,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

Insider Buying and Selling at OmniAb

In related news, CEO Matthew W. Foehr sold 41,811 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total transaction of $135,467.64. Following the sale, the chief executive officer now owns 3,749,639 shares of the company’s stock, valued at $12,148,830.36. This trade represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kurt A. Gustafson sold 11,963 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $2.37, for a total value of $28,352.31. Following the transaction, the chief financial officer now directly owns 217,492 shares in the company, valued at $515,456.04. This represents a 5.21 % 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 in the last quarter. 8.60% of the stock is owned by corporate insiders.

OmniAb Price Performance

Shares of NASDAQ OABI opened at $2.09 on Monday. The firm has a 50-day moving average of $3.17 and a 200 day moving average of $3.62. OmniAb, Inc. has a 1 year low of $2.01 and a 1 year high of $5.45. The stock has a market cap of $255.26 million, a P/E ratio of -3.37 and a beta of 0.06.

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

Analyst Upgrades and Downgrades

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

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.