First Sabrepoint Capital Management LP Has $5.17 Million Stock Holdings in OmniAb, Inc. (NASDAQ:OABI)

First Sabrepoint Capital Management LP lowered its position in OmniAb, Inc. (NASDAQ:OABI - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,460,602 shares of the company's stock after selling 204,398 shares during the quarter. OmniAb accounts for approximately 1.4% of First Sabrepoint Capital Management LP's holdings, making the stock its 26th biggest holding. First Sabrepoint Capital Management LP owned 1.03% of OmniAb worth $5,171,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position 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 buying an additional 142,513 shares during the period. Geode Capital Management LLC raised its holdings in shares of OmniAb by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,353,442 shares of the company's stock valued at $8,333,000 after buying an additional 28,061 shares during the period. JPMorgan Chase & Co. grew its stake in OmniAb by 582.1% during the 4th 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 in the last quarter. Northern Trust Corp grew its stake in OmniAb by 5.4% during the 4th quarter. Northern Trust Corp now owns 882,455 shares of the company's stock valued at $3,124,000 after purchasing an additional 45,169 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in OmniAb by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 819,708 shares of the company's stock valued at $2,902,000 after purchasing an additional 32,186 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on OABI. Benchmark reduced their price objective on OmniAb from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Royal Bank of Canada lowered their price target on OmniAb from $7.00 to $4.00 and set an "outperform" rating on the stock in a report on Thursday, March 27th. Finally, HC Wainwright reiterated a "buy" rating and set a $11.00 price target on shares of OmniAb in a report on Wednesday, March 19th.

Insider Buying and Selling at OmniAb

In related news, Director John L. Higgins acquired 125,750 shares of the stock in a transaction dated Thursday, March 20th. The shares were bought at an average cost of $2.35 per share, for a total transaction of $295,512.50. Following the purchase, the director now owns 2,762,887 shares in the company, valued at approximately $6,492,784.45. This trade represents a 4.77% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew W. Foehr sold 19,382 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $2.00, for a total value of $38,764.00. Following the completion of the sale, the chief executive officer now owns 3,796,236 shares in the company, valued at approximately $7,592,472. This represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,985 shares of company stock valued at $189,773 in the last quarter. Corporate insiders own 8.60% of the company's stock.

OmniAb Stock Down 7.6%

Shares of NASDAQ:OABI traded down $0.12 on Friday, reaching $1.45. The company had a trading volume of 788,832 shares, compared to its average volume of 613,093. OmniAb, Inc. has a twelve month low of $1.43 and a twelve month high of $4.96. The stock has a 50-day moving average price of $2.24 and a 200 day moving average price of $3.19. The stock has a market capitalization of $177.10 million, a P/E ratio of -2.34 and a beta of 0.10.

OmniAb (NASDAQ:OABI - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. The business had revenue of $4.15 million during the quarter, compared to analysts' expectations of $4.49 million. On average, sell-side analysts predict that OmniAb, Inc. will post -0.61 earnings per share 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.