BlackRock Inc. Invests $21.89 Million in OmniAb, Inc. $OABI

Key Points

• BlackRock acquired 8.9 million OmniAb shares worth approximately $21.9 million in the second quarter, giving it a 6.15% stake. Institutional investors and hedge funds collectively own 72.08% of OABI.
• Analyst sentiment remains mixed: HC Wainwright reiterated a Buy rating with an $11 price target, while the consensus rating is Hold with the same $11 target.
• OmniAb shares recently traded at $5.04, up 13.5%, after the company beat quarterly estimates with a $0.05 per-share loss versus the expected $0.12 loss and revenue of $13.41 million versus $4.69 million expected.

BlackRock Inc. purchased a new stake 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 purchased 8,897,490 shares of the company's stock, valued at approximately $21,888,000. BlackRock Inc. owned about 6.15% of OmniAb as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of OABI. Rice Hall James & Associates LLC acquired a new stake in shares of OmniAb in the second quarter valued at about $6,422,000. Cerity Partners LLC lifted its position in shares of OmniAb by 111.5% during the 2nd quarter. Cerity Partners LLC now owns 22,612 shares of the company's stock valued at $39,000 after acquiring an additional 11,919 shares during the period. BNP Paribas Financial Markets boosted its stake in OmniAb by 92.5% during the third quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company's stock worth $35,000 after acquiring an additional 10,438 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of OmniAb in the 1st quarter valued at about $25,000. Finally, Osaic Holdings Inc. boosted its holdings in OmniAb by 214.4% in the second quarter. Osaic Holdings Inc. now owns 14,247 shares of the company's stock worth $25,000 after acquiring an additional 9,716 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company's stock.

Analyst Ratings Changes

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

OmniAb Trading Up 13.5%

Shares of OABI opened at $5.04 on Thursday. The stock has a 50-day moving average price of $2.91 and a 200-day moving average price of $2.26. The company has a market cap of $729.71 million, a PE ratio of -14.00 and a beta of 0.61. OmniAb, Inc. has a 12-month low of $1.30 and a 12-month high of $5.43.

OmniAb (NASDAQ:OABI - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.07. The business had revenue of $13.41 million for the quarter, compared to the consensus estimate of $4.69 million. OmniAb had a negative net margin of 115.12% and a negative return on equity of 16.59%. As a group, analysts predict that OmniAb, Inc. will post -0.35 earnings per share 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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