Nuveen LLC Invests $547,000 in OmniAb, Inc. $OABI

Key Points

• Nuveen LLC acquired 227,801 shares of OmniAb, Inc. valued at approximately $547,000, representing 0.19% of the company as per its recent SEC filing.
• OmniAb reported a quarterly earnings loss of ($0.15) per share, missing estimates, and had a revenue of $3.90 million against a prediction of $5.33 million.
• The stock currently holds a Buy rating from several analysts, with an average target price of $6.67.

Nuveen LLC bought a new stake in OmniAb, Inc. (NASDAQ:OABI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 227,801 shares of the company's stock, valued at approximately $547,000. Nuveen LLC owned 0.19% of OmniAb as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in OmniAb by 279.4% during the first quarter. PNC Financial Services Group Inc. now owns 16,276 shares of the company's stock worth $39,000 after buying an additional 11,986 shares during the last quarter. Private Management Group Inc. lifted its holdings in OmniAb by 13.3% during the 1st quarter. Private Management Group Inc. now owns 2,529,759 shares of the company's stock worth $6,071,000 after purchasing an additional 296,711 shares during the last quarter. Towerview LLC boosted its position in shares of OmniAb by 5.5% in the first quarter. Towerview LLC now owns 580,000 shares of the company's stock valued at $1,392,000 after acquiring an additional 30,000 shares during the period. Royce & Associates LP raised its stake in OmniAb by 15.6% in the 1st quarter. Royce & Associates LP now owns 817,080 shares of the company's stock worth $1,961,000 after purchasing an additional 110,000 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of OmniAb during the 1st quarter worth approximately $259,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

OmniAb Stock Performance

Shares of NASDAQ OABI remained flat at $1.57 during trading hours on Wednesday. 377,550 shares of the company traded hands, compared to its average volume of 382,410. OmniAb, Inc. has a twelve month low of $1.22 and a twelve month high of $4.87. The firm has a market cap of $192.64 million, a P/E ratio of -2.62 and a beta of 0.14. The firm has a fifty day moving average of $1.89 and a two-hundred day moving average of $2.00.

OmniAb (NASDAQ:OABI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). OmniAb had a negative net margin of 275.83% and a negative return on equity of 22.79%. The business had revenue of $3.90 million during the quarter, compared to analyst estimates of $5.33 million. Equities analysts anticipate that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada lowered their price objective on OmniAb from $4.00 to $3.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, OmniAb presently has an average rating of "Buy" and a consensus target price of $6.67.

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.