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

Kornitzer Capital Management Inc. KS decreased its position in shares of OmniAb, Inc. (NASDAQ:OABI) by 29.5% during the 4th quarter, HoldingsChannel.com reports. 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’s holdings in OmniAb were worth $7,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Federated Hermes Inc. purchased a new position in shares of OmniAb during the fourth quarter valued at approximately $38,000. Stephens Inc. AR purchased a new position in shares of OmniAb during the first quarter valued at approximately $32,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of OmniAb during the second quarter valued at approximately $50,000. Stifel Financial Corp purchased a new position in shares of OmniAb during the first quarter valued at approximately $37,000. Finally, Financial Advocates Investment Management purchased a new position in shares of OmniAb during the third quarter valued at approximately $52,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $7.00 price target on shares of OmniAb in a research note on Thursday, March 21st. Benchmark reaffirmed a “buy” rating and set a $8.00 price target on shares of OmniAb in a research note on Friday, March 22nd. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price target on shares of OmniAb in a research note on Thursday, March 21st. Finally, Truist Financial reaffirmed a “buy” rating and set a $10.00 price target on shares of OmniAb in a research note on Tuesday, March 26th.

Insider Activity

In other OmniAb news, CEO Matthew W. Foehr bought 225,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were acquired at an average price of $5.19 per share, with a total value of $1,167,750.00. Following the purchase, the chief executive officer now owns 2,908,803 shares in the company, valued at approximately $15,096,687.57. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Matthew W. Foehr purchased 225,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average cost of $5.19 per share, with a total value of $1,167,750.00. Following the acquisition, the chief executive officer now owns 2,908,803 shares in the company, valued at $15,096,687.57. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kurt A. Gustafson sold 6,954 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were 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 $931,193.19. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

OmniAb Stock Performance

Shares of OABI stock traded up $0.08 during mid-day trading on Friday, reaching $4.67. The company’s stock had a trading volume of 930,364 shares, compared to its average volume of 557,369. The company’s 50 day simple moving average is $5.39 and its 200-day simple moving average is $5.32. OmniAb, Inc. has a 12-month low of $3.14 and a 12-month high of $6.72.

OmniAb (NASDAQ:OABI) last issued its earnings results on Wednesday, March 20th. The company reported ($0.14) EPS 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 business had revenue of $4.82 million for the quarter, compared to the consensus estimate of $6.94 million. As a group, equities research analysts anticipate that OmniAb, Inc. will post -0.58 EPS for the current 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.