Rice Hall James & Associates LLC Makes New $6.42 Million Investment in OmniAb, Inc. $OABI

Rice Hall James & Associates LLC bought a new position in shares of OmniAb, Inc. (NASDAQ:OABI) during the 2nd quarter, HoldingsChannel reports. The firm bought 2,610,434 shares of the company’s stock, valued at approximately $6,422,000.

A number of other institutional investors have also added to or reduced their stakes in OABI. The Manufacturers Life Insurance Company boosted its position in OmniAb by 20.5% during the second quarter. The Manufacturers Life Insurance Company now owns 44,809 shares of the company’s stock valued at $78,000 after purchasing an additional 7,624 shares in the last quarter. Rhumbline Advisers lifted its position in shares of OmniAb by 6.0% during the second quarter. Rhumbline Advisers now owns 160,728 shares of the company’s stock valued at $280,000 after buying an additional 9,163 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of OmniAb by 214.4% in the 2nd quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock valued at $25,000 after buying an additional 9,716 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of OmniAb during the 1st quarter worth approximately $25,000. Finally, BNP Paribas Financial Markets lifted its position in OmniAb by 92.5% during the third quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company’s stock valued at $35,000 after acquiring an additional 10,438 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of OmniAb in a research note on Monday. Weiss Ratings downgraded OmniAb from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, OmniAb currently has a consensus rating of “Hold” and an average target price of $11.00.

OmniAb Price Performance

OABI stock opened at $3.82 on Tuesday. The firm’s fifty day simple moving average is $2.38 and its 200-day simple moving average is $2.03. The company has a market capitalization of $553.06 million, a P/E ratio of -10.61 and a beta of 0.45. OmniAb, Inc. has a 12 month low of $1.30 and a 12 month high of $4.29.

OmniAb (NASDAQ:OABI) last issued its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. OmniAb had a negative net margin of 115.12% and a negative return on equity of 16.59%. The firm had revenue of $13.41 million during the quarter, compared to analysts’ expectations of $4.69 million. As a group, sell-side analysts forecast that OmniAb, Inc. will post -0.35 earnings per share for the current year.

OmniAb Company Profile

OmniAb, Inc (NASDAQ: OABI) operates as a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s integrated antibody discovery platform combines proprietary transgenic animal models, in vitro screening, and in silico engineering to accelerate lead identification and optimization. OmniAb offers both fee-for-service collaborations and license agreements, enabling biopharmaceutical partners to leverage its suite of technologies for programs spanning oncology, immunology, and other therapeutic areas.

Founded in 2016 and headquartered in Seattle, Washington, OmniAb went public in May 2021.