Woodstock Corp Reduces Holdings in OmniAb, Inc. $OABI

Woodstock Corp lowered its stake in shares of OmniAb, Inc. (NASDAQ:OABI) by 43.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 351,753 shares of the company’s stock after selling 269,931 shares during the quarter. Woodstock Corp owned about 0.24% of OmniAb worth $563,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Osaic Holdings Inc. increased its stake in OmniAb by 214.4% during the 2nd quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock valued at $25,000 after purchasing an additional 9,716 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of OmniAb during the first quarter worth $25,000. PNC Financial Services Group Inc. increased its position in shares of OmniAb by 279.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,276 shares of the company’s stock valued at $39,000 after acquiring an additional 11,986 shares during the period. Cerity Partners LLC lifted its position in OmniAb by 111.5% during the 2nd quarter. Cerity Partners LLC now owns 22,612 shares of the company’s stock worth $39,000 after acquiring an additional 11,919 shares during the period. Finally, Corient Private Wealth LLC purchased a new stake in OmniAb during the 2nd quarter valued at about $53,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at OmniAb

In related news, Director John L. Higgins acquired 41,038 shares of the stock in a transaction on Friday, November 7th. The shares were acquired at an average price of $1.38 per share, for a total transaction of $56,632.44. Following the transaction, the director owned 2,929,148 shares in the company, valued at approximately $4,042,224.24. This trade represents a 1.42% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew W. Foehr sold 13,666 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $1.96, for a total transaction of $26,785.36. Following the sale, the chief executive officer directly owned 4,360,083 shares in the company, valued at $8,545,762.68. The trade was a 0.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 45,632 shares of company stock valued at $89,439. 8.60% of the stock is owned by company insiders.

OmniAb Price Performance

NASDAQ OABI opened at $2.05 on Wednesday. OmniAb, Inc. has a 1 year low of $1.22 and a 1 year high of $4.02. The company has a market capitalization of $295.12 million, a PE ratio of -3.53 and a beta of 0.13. The company has a fifty day moving average of $1.71 and a 200 day moving average of $1.74.

OmniAb (NASDAQ:OABI) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. OmniAb had a negative return on equity of 23.14% and a negative net margin of 301.83%.The business had revenue of $2.24 million during the quarter, compared to analyst estimates of $5.64 million. Research analysts expect that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of OmniAb in a research note on Monday, December 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.67.

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.