First Sabrepoint Capital Management LP Cuts Stock Holdings in OmniAb, Inc. (NASDAQ:OABI)

First Sabrepoint Capital Management LP reduced its stake in OmniAb, Inc. (NASDAQ:OABI - Free Report) by 12.3% during the fourth quarter, according to its most recent filing with the SEC. The fund 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 portfolio, making the stock its 26th largest holding. First Sabrepoint Capital Management LP owned 1.03% of OmniAb worth $5,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OABI. Hsbc Holdings PLC purchased a new stake in OmniAb in the fourth quarter valued at approximately $38,000. Choreo LLC bought a new position in OmniAb during the fourth quarter valued at approximately $41,000. Rangeley Capital LLC bought a new position in OmniAb during the fourth quarter valued at approximately $41,000. KLP Kapitalforvaltning AS bought a new position in shares of OmniAb in the fourth quarter worth approximately $49,000. Finally, BNP Paribas Financial Markets bought a new position in shares of OmniAb in the fourth quarter worth approximately $62,000. 72.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. HC Wainwright restated a "buy" rating and issued a $11.00 target price on shares of OmniAb in a report on Wednesday, March 19th. Benchmark reaffirmed a "buy" rating and issued a $6.00 price target on shares of OmniAb in a research note on Monday. Finally, Royal Bank of Canada dropped 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 Price Performance

NASDAQ OABI traded up $0.09 during trading hours on Wednesday, hitting $1.49. The company's stock had a trading volume of 788,366 shares, compared to its average volume of 616,654. The company's 50 day simple moving average is $2.17 and its two-hundred day simple moving average is $3.17. The company has a market cap of $181.37 million, a P/E ratio of -2.40 and a beta of 0.10. OmniAb, Inc. has a 12 month low of $1.35 and a 12 month high of $4.96.

OmniAb (NASDAQ:OABI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.17) EPS for the quarter, hitting analysts' consensus estimates of ($0.17). OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. The company had revenue of $4.15 million for the quarter, compared to analysts' expectations of $4.49 million. As a group, research analysts predict that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

Insider Transactions at OmniAb

In other news, CFO Kurt A. Gustafson sold 7,255 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $3.67, for a total transaction of $26,625.85. Following the sale, the chief financial officer now directly owns 206,211 shares of the company's stock, valued at $756,794.37. This represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles S. Berkman sold 8,215 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $3.68, for a total value of $30,231.20. Following the sale, the insider now directly owns 364,131 shares in the company, valued at $1,340,002.08. This trade represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,985 shares of company stock valued at $189,773 in the last ninety days. Corporate insiders own 8.60% of the company's stock.

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.