Chicago Capital LLC Sells 354,997 Shares of OmniAb, Inc. (NASDAQ:OABI)

Chicago Capital LLC lessened its holdings in shares of OmniAb, Inc. (NASDAQ:OABI - Free Report) by 11.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,620,454 shares of the company's stock after selling 354,997 shares during the quarter. Chicago Capital LLC owned approximately 2.15% of OmniAb worth $6,289,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in shares of OmniAb by 582.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,001,797 shares of the company's stock valued at $3,546,000 after purchasing an additional 854,929 shares during the period. Royce & Associates LP increased its holdings in OmniAb by 438.6% in the 4th quarter. Royce & Associates LP now owns 707,080 shares of the company's stock valued at $2,503,000 after buying an additional 575,796 shares during the period. Dimensional Fund Advisors LP lifted its stake in OmniAb by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,025,674 shares of the company's stock worth $10,711,000 after purchasing an additional 142,513 shares during the last quarter. Northeast Financial Consultants Inc acquired a new position in OmniAb during the fourth quarter worth about $393,000. Finally, Janus Henderson Group PLC raised its position in OmniAb by 1.1% in the fourth quarter. Janus Henderson Group PLC now owns 7,960,321 shares of the company's stock valued at $28,179,000 after purchasing an additional 88,993 shares during the last quarter. Institutional investors own 72.08% of the company's stock.

Insider Buying and Selling

In other OmniAb news, Director John L. Higgins acquired 65,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $1.44 per share, with a total value of $93,600.00. Following the purchase, the director now owns 2,831,887 shares of the company's stock, valued at approximately $4,077,917.28. This trade represents a 2.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kurt A. Gustafson sold 11,963 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $2.37, for a total transaction of $28,352.31. Following the transaction, the chief financial officer now directly owns 217,492 shares in the company, valued at approximately $515,456.04. This represents a 5.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,551 shares of company stock worth $81,528. Corporate insiders own 8.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OABI shares. Royal Bank Of Canada decreased their target price on shares of OmniAb from $7.00 to $4.00 and set an "outperform" rating for the company in a research report on Thursday, March 27th. HC Wainwright restated a "buy" rating and issued a $11.00 target price on shares of OmniAb in a report on Wednesday, March 19th. Finally, Benchmark reissued a "buy" rating and set a $6.00 target price on shares of OmniAb in a research report on Monday, May 12th.

OmniAb Stock Performance

OABI stock traded down $0.06 during midday trading on Friday, reaching $1.59. 1,083,547 shares of the company's stock traded hands, compared to its average volume of 667,983. The firm has a market capitalization of $194.19 million, a PE ratio of -2.74 and a beta of -0.03. OmniAb, Inc. has a 52 week low of $1.22 and a 52 week high of $4.96. The company has a 50-day moving average price of $1.60 and a two-hundred day moving average price of $2.69.

OmniAb (NASDAQ:OABI - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17). The firm had revenue of $4.15 million during the quarter, compared to the consensus estimate of $4.49 million. OmniAb had a negative net margin of 229.11% and a negative return on equity of 21.37%. As a group, analysts predict that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

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.