Thrive Wealth Management LLC Purchases Shares of 14,131 OmniAb, Inc. (NASDAQ:OABI)

Thrive Wealth Management LLC acquired a new position in OmniAb, Inc. (NASDAQ:OABI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,131 shares of the company’s stock, valued at approximately $71,000.

Several other institutional investors have also recently modified their holdings of the company. Stephens Inc. AR bought a new position in OmniAb during the first quarter valued at approximately $32,000. Stifel Financial Corp purchased a new stake in OmniAb in the 1st quarter worth approximately $37,000. Two Sigma Advisers LP bought a new stake in shares of OmniAb in the 1st quarter worth approximately $47,000. HighTower Advisors LLC purchased a new position in shares of OmniAb during the first quarter valued at approximately $48,000. Finally, Two Sigma Investments LP bought a new position in shares of OmniAb during the first quarter valued at approximately $50,000. 58.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Matthew W. Foehr acquired 45,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost of $5.48 per share, for a total transaction of $246,600.00. Following the acquisition, the chief executive officer now directly owns 2,332,919 shares in the company, valued at $12,784,396.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.00% of the company’s stock.

OmniAb Price Performance

NASDAQ:OABI opened at $5.11 on Tuesday. The firm’s 50-day moving average price is $5.44 and its 200-day moving average price is $4.49. The company has a market capitalization of $593.63 million, a PE ratio of -22.22 and a beta of -0.55. OmniAb, Inc. has a 1-year low of $1.91 and a 1-year high of $10.50.

OmniAb (NASDAQ:OABI) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The company had revenue of $6.95 million for the quarter, compared to the consensus estimate of $13.05 million. Equities analysts anticipate that OmniAb, Inc. will post -0.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of OmniAb in a report on Friday, August 11th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $10.00.

OmniAb Profile

OmniAb, Inc, a biotechnology company, engages in the provision of therapeutic antibody discovery technologies in the United States. The company's discovery platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts. Its OmniAb platform is the biological intelligence of proprietary transgenic animals, including OmniRat, OmniChicken, and OmniMouse that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates.