Lake Street Advisors Group LLC Purchases New Holdings in OmniAb, Inc. (NASDAQ:OABI)

Lake Street Advisors Group LLC acquired a new position in shares of OmniAb, Inc. (NASDAQ:OABI) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 11,170 shares of the company’s stock, valued at approximately $56,000.

Several other large investors also recently bought and sold shares of OABI. BlackRock Inc. purchased a new stake in OmniAb during the 1st quarter worth approximately $21,021,000. Macquarie Group Ltd. acquired a new position in shares of OmniAb during the 1st quarter worth approximately $13,908,000. First Sabrepoint Capital Management LP acquired a new position in shares of OmniAb during the 1st quarter worth approximately $11,776,000. Chicago Capital LLC acquired a new position in shares of OmniAb during the 2nd quarter worth approximately $15,959,000. Finally, Rice Hall James & Associates LLC acquired a new position in shares of OmniAb during the 1st quarter worth approximately $10,378,000. 58.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Matthew W. Foehr purchased 95,000 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were bought at an average cost of $4.27 per share, for a total transaction of $405,650.00. Following the completion of the purchase, the chief executive officer now directly owns 2,427,919 shares of the company’s stock, valued at $10,367,214.13. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.00% of the stock is owned by insiders.

OmniAb Price Performance

NASDAQ:OABI remained flat at $4.45 during trading hours on Friday. The company’s stock had a trading volume of 445,376 shares, compared to its average volume of 574,237. The stock has a fifty day simple moving average of $4.87 and a 200-day simple moving average of $4.86. OmniAb, Inc. has a one year low of $2.56 and a one year high of $5.97. The stock has a market cap of $516.96 million, a P/E ratio of -14.83 and a beta of -0.43.

Analyst Ratings Changes

A number of research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a report on Friday, August 11th. Benchmark reiterated a “buy” rating and issued a $8.00 price objective on shares of OmniAb in a report on Tuesday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $10.00.

About OmniAb

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.