Deutsche Bank AG Sells 193,247 Shares of OmniAb, Inc. $OABI

Key Points

• Deutsche Bank AG has reduced its stock position in OmniAb, Inc. by 30.9%, now holding approximately 432,859 shares worth $1,039,000.
• OmniAb reported a quarterly loss of ($0.15) EPS, missing estimates and generating only $3.90 million in revenue compared to the expected $5.33 million.
• Analysts have given OmniAb an average rating of "Buy" with a consensus price target of $6.67, despite recent price adjustments from $4.00 to $3.00 by some firms.

Deutsche Bank AG lowered its stake in OmniAb, Inc. (NASDAQ:OABI - Free Report) by 30.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 432,859 shares of the company's stock after selling 193,247 shares during the quarter. Deutsche Bank AG owned 0.35% of OmniAb worth $1,039,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OABI. Wells Fargo & Company MN lifted its position in OmniAb by 24.3% in the fourth quarter. Wells Fargo & Company MN now owns 62,859 shares of the company's stock valued at $223,000 after purchasing an additional 12,278 shares during the last quarter. Invesco Ltd. raised its holdings in shares of OmniAb by 3.3% during the fourth quarter. Invesco Ltd. now owns 93,653 shares of the company's stock valued at $332,000 after acquiring an additional 2,997 shares in the last quarter. Barclays PLC raised its holdings in shares of OmniAb by 14.7% during the fourth quarter. Barclays PLC now owns 164,315 shares of the company's stock valued at $582,000 after acquiring an additional 21,100 shares in the last quarter. XTX Topco Ltd bought a new position in shares of OmniAb during the fourth quarter valued at approximately $183,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of OmniAb by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,025,674 shares of the company's stock valued at $10,711,000 after acquiring an additional 142,513 shares in the last quarter. Institutional investors own 72.08% of the company's stock.

OmniAb Stock Down 2.4%

Shares of NASDAQ OABI traded down $0.04 during trading on Friday, reaching $1.60. The company had a trading volume of 165,625 shares, compared to its average volume of 513,037. OmniAb, Inc. has a 12-month low of $1.22 and a 12-month high of $4.87. The stock has a market cap of $196.32 million, a PE ratio of -2.67 and a beta of 0.16. The business's 50-day moving average is $1.91 and its 200 day moving average is $2.10.

OmniAb (NASDAQ:OABI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $5.33 million. On average, analysts anticipate that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OABI shares. Benchmark restated a "buy" rating and set a $6.00 target price on shares of OmniAb in a report on Monday, May 12th. Royal Bank Of Canada decreased their target price on OmniAb from $4.00 to $3.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $6.67.

About OmniAb

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.