Kornitzer Capital Management Inc. KS Cuts Position in OmniAb, Inc. (NASDAQ:OABI)

Kornitzer Capital Management Inc. KS lessened its stake in shares of OmniAb, Inc. (NASDAQ:OABI - Free Report) by 29.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,219,955 shares of the company's stock after selling 510,470 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 1.05% of OmniAb worth $7,527,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of OABI. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of OmniAb by 8.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,903 shares of the company's stock valued at $234,000 after purchasing an additional 2,902 shares during the period. California State Teachers Retirement System raised its position in OmniAb by 2.8% during the 2nd quarter. California State Teachers Retirement System now owns 107,270 shares of the company's stock worth $540,000 after buying an additional 2,968 shares during the last quarter. Sei Investments Co. lifted its stake in OmniAb by 15.9% during the 3rd quarter. Sei Investments Co. now owns 22,165 shares of the company's stock valued at $115,000 after acquiring an additional 3,034 shares during the period. Swiss National Bank lifted its stake in OmniAb by 2.5% during the 3rd quarter. Swiss National Bank now owns 190,603 shares of the company's stock valued at $989,000 after acquiring an additional 4,700 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of OmniAb by 15.9% in the 3rd quarter. Principal Financial Group Inc. now owns 35,660 shares of the company's stock valued at $185,000 after acquiring an additional 4,880 shares during the last quarter. Institutional investors own 72.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OABI shares. Truist Financial restated a "buy" rating and set a $10.00 target price on shares of OmniAb in a research report on Tuesday, March 26th. HC Wainwright restated a "buy" rating and set a $11.00 target price on shares of OmniAb in a research report on Thursday, March 21st. Benchmark restated a "buy" rating and set a $8.00 target price on shares of OmniAb in a research report on Friday, March 22nd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $7.00 target price on shares of OmniAb in a research report on Thursday, March 21st.

Insider Buying and Selling at OmniAb

In other news, CFO Kurt A. Gustafson sold 11,849 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $5.46, for a total transaction of $64,695.54. Following the completion of the sale, the chief financial officer now owns 170,110 shares of the company's stock, valued at $928,800.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Kurt A. Gustafson sold 11,849 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $5.46, for a total transaction of $64,695.54. Following the completion of the sale, the chief financial officer now owns 170,110 shares of the company's stock, valued at $928,800.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt A. Gustafson sold 6,954 shares of the business's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $5.27, for a total transaction of $36,647.58. Following the sale, the chief financial officer now directly owns 176,697 shares of the company's stock, valued at approximately $931,193.19. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

OmniAb Trading Up 1.7 %

OABI traded up $0.08 on Friday, reaching $4.67. The stock had a trading volume of 930,364 shares, compared to its average volume of 557,369. OmniAb, Inc. has a 12-month low of $3.14 and a 12-month high of $6.72. The business's 50-day moving average price is $5.39 and its two-hundred day moving average price is $5.33. The company has a market cap of $547.00 million, a P/E ratio of -9.16 and a beta of -0.18.

OmniAb (NASDAQ:OABI - Get Free Report) last released its quarterly earnings data on Wednesday, March 20th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.03. OmniAb had a negative net margin of 148.16% and a negative return on equity of 15.41%. The company had revenue of $4.82 million during the quarter, compared to analysts' expectations of $6.94 million. As a group, analysts predict that OmniAb, Inc. will post -0.58 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.