Private Management Group Inc. Purchases 28,286 Shares of OmniAb, Inc. $OABI

Private Management Group Inc. lifted its holdings in OmniAb, Inc. (NASDAQ:OABI) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,558,045 shares of the company’s stock after buying an additional 28,286 shares during the period. Private Management Group Inc. owned approximately 2.09% of OmniAb worth $4,451,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in OmniAb during the first quarter worth $25,000. Cerity Partners LLC purchased a new stake in shares of OmniAb during the 1st quarter valued at $26,000. PNC Financial Services Group Inc. increased its position in shares of OmniAb by 279.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,276 shares of the company’s stock valued at $39,000 after purchasing an additional 11,986 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of OmniAb during the 2nd quarter worth $79,000. Finally, Connors Investor Services Inc. boosted its holdings in shares of OmniAb by 25.0% in the 2nd quarter. Connors Investor Services Inc. now owns 62,000 shares of the company’s stock worth $108,000 after buying an additional 12,389 shares during the last quarter. 72.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

OABI has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of OmniAb in a report on Monday, November 17th. Royal Bank Of Canada reduced their target price 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 equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

Insider Buying and Selling

In other OmniAb news, Director John L. Higgins acquired 41,038 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $1.38 per share, with a total value of $56,632.44. Following the acquisition, the director owned 2,929,148 shares in the company, valued at approximately $4,042,224.24. This represents a 1.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.60% of the company’s stock.

OmniAb Stock Performance

Shares of OABI opened at $1.77 on Friday. The business has a 50-day moving average of $1.60 and a 200 day moving average of $1.68. OmniAb, Inc. has a fifty-two week low of $1.22 and a fifty-two week high of $4.21. The firm has a market cap of $254.81 million, a P/E ratio of -3.05 and a beta of 0.15.

OmniAb (NASDAQ:OABI) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. The business had revenue of $2.24 million for the quarter, compared to the consensus estimate of $5.64 million. OmniAb had a negative net margin of 301.83% and a negative return on equity of 23.14%. OmniAb has set its FY 2025 guidance at EPS. As a group, research 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.