Palumbo Wealth Management LLC grew its position in shares of OmniAb, Inc. (NASDAQ:OABI – Free Report) by 12.5% during the third quarter, HoldingsChannel reports. The firm owned 24,640 shares of the company’s stock after buying an additional 2,744 shares during the period. Palumbo Wealth Management LLC’s holdings in OmniAb were worth $104,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Isthmus Partners LLC increased its stake in shares of OmniAb by 37.2% in the second quarter. Isthmus Partners LLC now owns 528,385 shares of the company’s stock worth $1,981,000 after buying an additional 143,387 shares during the last quarter. Sei Investments Co. increased its stake in shares of OmniAb by 11.0% in the second quarter. Sei Investments Co. now owns 29,024 shares of the company’s stock worth $109,000 after buying an additional 2,888 shares during the last quarter. Simplicity Wealth LLC increased its stake in shares of OmniAb by 23.3% in the second quarter. Simplicity Wealth LLC now owns 42,160 shares of the company’s stock worth $158,000 after buying an additional 7,976 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of OmniAb by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,012,216 shares of the company’s stock worth $11,296,000 after buying an additional 194,835 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of OmniAb in the second quarter worth $147,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.
Analysts Set New Price Targets
OABI has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of OmniAb in a research note on Monday, August 12th. Benchmark reaffirmed a “buy” rating and issued a $8.00 price objective on shares of OmniAb in a report on Monday, August 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $7.00 price target on shares of OmniAb in a research report on Friday, August 16th.
OmniAb Stock Up 0.3 %
OmniAb stock traded up $0.01 during mid-day trading on Thursday, hitting $4.00. The company’s stock had a trading volume of 27,820 shares, compared to its average volume of 500,917. OmniAb, Inc. has a twelve month low of $3.56 and a twelve month high of $6.72. The stock’s fifty day moving average price is $4.15 and its two-hundred day moving average price is $4.30. The stock has a market capitalization of $470.46 million, a P/E ratio of -6.23 and a beta of -0.13.
OmniAb (NASDAQ:OABI – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. OmniAb had a negative return on equity of 20.21% and a negative net margin of 287.29%. The company had revenue of $7.61 million for the quarter, compared to analyst estimates of $6.52 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. Equities analysts expect that OmniAb, Inc. will post -0.58 earnings per share for the current year.
OmniAb Profile
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.
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