OmniAb, Inc. $OABI Shares Sold by First Sabrepoint Capital Management LP

Key Points

• First Sabrepoint Capital Management LP has reduced its stake in OmniAb, Inc. by 71.9%, selling over 1 million shares, which now make up only 0.4% of its investment portfolio.
• OmniAb recently reported a loss of ($0.15) earnings per share, missing analysts' estimates, and has a negative net margin of 275.83% for the quarter.
• Despite recent downgrades, OmniAb has an average rating of "Buy" from analysts, with a consensus target price of $6.67.

First Sabrepoint Capital Management LP decreased its position in shares of OmniAb, Inc. (NASDAQ:OABI - Free Report) by 71.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 410,000 shares of the company's stock after selling 1,050,602 shares during the period. OmniAb accounts for approximately 0.4% of First Sabrepoint Capital Management LP's portfolio, making the stock its 27th largest holding. First Sabrepoint Capital Management LP owned approximately 0.34% of OmniAb worth $984,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Squarepoint Ops LLC raised its stake in OmniAb by 33.3% during the fourth quarter. Squarepoint Ops LLC now owns 39,264 shares of the company's stock worth $139,000 after purchasing an additional 9,809 shares during the period. ProShare Advisors LLC raised its stake in OmniAb by 29.9% during the fourth quarter. ProShare Advisors LLC now owns 31,724 shares of the company's stock worth $112,000 after purchasing an additional 7,302 shares during the period. Barclays PLC raised its stake in OmniAb by 14.7% during the fourth quarter. Barclays PLC now owns 164,315 shares of the company's stock worth $582,000 after purchasing an additional 21,100 shares during the period. BNP Paribas Financial Markets purchased a new position in OmniAb during the fourth quarter worth approximately $62,000. Finally, Deutsche Bank AG raised its stake in OmniAb by 5.3% during the fourth quarter. Deutsche Bank AG now owns 626,106 shares of the company's stock worth $2,216,000 after purchasing an additional 31,793 shares during the period. Hedge funds and other institutional investors own 72.08% of the company's stock.

Analyst Upgrades and Downgrades

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

OmniAb Stock Up 4.1%

OmniAb stock traded up $0.07 during trading hours on Friday, hitting $1.67. 173,473 shares of the company traded hands, compared to its average volume of 748,283. The firm has a market cap of $204.30 million, a P/E ratio of -2.77 and a beta of 0.14. The firm's 50-day simple moving average is $1.90 and its two-hundred day simple moving average is $2.06. OmniAb, Inc. has a 1-year low of $1.22 and a 1-year high of $4.87.

OmniAb (NASDAQ:OABI - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The company had revenue of $3.90 million for the quarter, compared to analyst estimates of $5.33 million. OmniAb had a negative net margin of 275.83% and a negative return on equity of 22.79%. On average, equities research analysts predict that OmniAb, Inc. will post -0.61 earnings per share for the current year.

OmniAb 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.