Chicago Capital LLC Trims Stake in OmniAb, Inc. (NASDAQ:OABI)

Chicago Capital LLC lessened its holdings in OmniAb, Inc. (NASDAQ:OABI - Free Report) by 11.9% during the 1st quarter, according to its most recent 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Hsbc Holdings PLC bought a new position in OmniAb in the 4th quarter valued at $38,000. Choreo LLC bought a new position in shares of OmniAb during the 4th quarter worth $41,000. Rangeley Capital LLC bought a new position in shares of OmniAb during the 4th quarter worth $41,000. KLP Kapitalforvaltning AS bought a new position in shares of OmniAb during the 4th quarter worth $49,000. Finally, Sherbrooke Park Advisers LLC grew its position in shares of OmniAb by 53.5% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 17,226 shares of the company's stock worth $61,000 after buying an additional 6,001 shares in the last quarter. Institutional investors own 72.08% of the company's stock.

Insider Buying and Selling

In related news, Director Steven Love bought 25,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average cost of $1.46 per share, with a total value of $36,500.00. Following the completion of the acquisition, the director now directly owns 38,333 shares in the company, valued at approximately $55,966.18. The trade was a 187.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Higgins acquired 65,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $1.44 per share, for a total transaction of $93,600.00. Following the completion of the acquisition, the director now owns 2,831,887 shares of the company's stock, valued at $4,077,917.28. This trade represents a 2.35% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 215,750 shares of company stock valued at $425,613 and have sold 38,551 shares valued at $81,528. 8.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

OmniAb Trading Down 2.9%

Shares of OABI stock traded down $0.05 during mid-day trading on Wednesday, reaching $1.65. The stock had a trading volume of 404,428 shares, compared to its average volume of 666,317. The business's fifty day moving average is $1.61 and its 200-day moving average is $2.70. The firm has a market cap of $201.53 million, a price-to-earnings ratio of -2.84 and a beta of -0.03. OmniAb, Inc. has a 1-year low of $1.22 and a 1-year high of $4.96.

OmniAb (NASDAQ:OABI - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.17) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.17). The business had revenue of $4.15 million for the quarter, compared to analyst estimates of $4.49 million. OmniAb had a negative return on equity of 21.37% and a negative net margin of 229.11%. On average, analysts forecast that OmniAb, Inc. will post -0.61 earnings per share for the current year.

OmniAb Company 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.