Bank of New York Mellon Corp Purchases Shares of 318,406 OmniAb, Inc. $OABI

Key Points

• Bank of New York Mellon acquired 318,406 OmniAb shares worth approximately $783,000, while institutional investors collectively owned 72.08% of the company.
• Analyst sentiment remains mixed: two analysts rate OmniAb a “Buy” and one rates it a “Sell,” resulting in a consensus “Hold” rating and an $11 price target.
• OmniAb reported a quarterly loss of $0.05 per share, beating estimates of a $0.12 loss, while revenue of $13.41 million exceeded expectations; the stock recently opened at $4.07.

Bank of New York Mellon Corp acquired a new position in OmniAb, Inc. (NASDAQ:OABI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 318,406 shares of the company's stock, valued at approximately $783,000. Bank of New York Mellon Corp owned approximately 0.22% of OmniAb at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Invesco Ltd. lifted its stake in shares of OmniAb by 17.0% in the 2nd quarter. Invesco Ltd. now owns 109,613 shares of the company's stock valued at $191,000 after acquiring an additional 15,912 shares during the last quarter. Sei Investments Co. grew its position in OmniAb by 166.5% during the 2nd quarter. Sei Investments Co. now owns 61,126 shares of the company's stock worth $106,000 after acquiring an additional 38,186 shares during the last quarter. Bridgeway Capital Management LLC purchased a new position in OmniAb in the 2nd quarter worth approximately $94,000. Brevan Howard Capital Management LP purchased a new position in OmniAb in the 2nd quarter worth approximately $94,000. Finally, Boothbay Fund Management LLC purchased a new position in OmniAb in the 4th quarter worth approximately $88,000. Institutional investors own 72.08% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. HC Wainwright reissued a "buy" rating and set a $11.00 price objective on shares of OmniAb in a research note on Monday, August 17th. Weiss Ratings raised shares of OmniAb from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $11.00.

OmniAb Stock Performance

NASDAQ:OABI opened at $4.07 on Friday. The firm has a market capitalization of $589.25 million, a PE ratio of -11.31 and a beta of 0.62. The stock's fifty day moving average is $3.16 and its 200 day moving average is $2.38. OmniAb, Inc. has a fifty-two week low of $1.30 and a fifty-two week high of $5.43.

OmniAb (NASDAQ:OABI - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. The firm had revenue of $13.41 million during the quarter, compared to analysts' expectations of $4.69 million. OmniAb had a negative net margin of 115.12% and a negative return on equity of 16.59%. Equities analysts forecast that OmniAb, Inc. will post -0.35 EPS for the current year.

About OmniAb

OmniAb, Inc NASDAQ: OABI operates as a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s integrated antibody discovery platform combines proprietary transgenic animal models, in vitro screening, and in silico engineering to accelerate lead identification and optimization. OmniAb offers both fee-for-service collaborations and license agreements, enabling biopharmaceutical partners to leverage its suite of technologies for programs spanning oncology, immunology, and other therapeutic areas.

Founded in 2016 and headquartered in Seattle, Washington, OmniAb went public in May 2021.

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