Allspring Global Investments Holdings LLC Invests $546,000 in OmniAb, Inc. (NASDAQ:OABI)

Allspring Global Investments Holdings LLC acquired a new position in OmniAb, Inc. (NASDAQ:OABI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 88,452 shares of the company’s stock, valued at approximately $546,000. Allspring Global Investments Holdings LLC owned 0.08% of OmniAb as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in OABI. Mirae Asset Global Investments Co. Ltd. increased its stake in OmniAb by 8.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,903 shares of the company’s stock valued at $234,000 after acquiring an additional 2,902 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in OmniAb during the fourth quarter valued at about $83,000. SG Americas Securities LLC increased its stake in OmniAb by 97.7% during the fourth quarter. SG Americas Securities LLC now owns 53,732 shares of the company’s stock valued at $332,000 after acquiring an additional 26,552 shares during the period. Woodstock Corp increased its stake in OmniAb by 8.3% during the fourth quarter. Woodstock Corp now owns 743,002 shares of the company’s stock valued at $4,584,000 after acquiring an additional 57,212 shares during the period. Finally, Rubric Capital Management LP increased its stake in OmniAb by 306.0% during the third quarter. Rubric Capital Management LP now owns 2,850,588 shares of the company’s stock valued at $14,795,000 after acquiring an additional 2,148,535 shares during the period. 72.08% of the stock is currently owned by institutional investors.

OmniAb Price Performance

Shares of OABI opened at $4.43 on Friday. The company has a market capitalization of $518.89 million, a P/E ratio of -8.69 and a beta of -0.18. OmniAb, Inc. has a one year low of $3.14 and a one year high of $6.72. The business’s 50 day simple moving average is $5.34 and its 200-day simple moving average is $5.32.

OmniAb (NASDAQ:OABI) last posted its quarterly earnings data on Wednesday, March 20th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4.82 million during the quarter, compared to analysts’ expectations of $6.94 million. On average, sell-side analysts anticipate that OmniAb, Inc. will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OABI has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of OmniAb in a report on Thursday, March 21st. Truist Financial reaffirmed a “buy” rating and set a $10.00 price objective on shares of OmniAb in a report on Tuesday, March 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $7.00 price objective on shares of OmniAb in a report on Thursday, March 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $8.00 price objective on shares of OmniAb in a report on Friday, March 22nd.

Insider Buying and Selling

In related news, CFO Kurt A. Gustafson sold 11,849 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $5.46, for a total value of $64,695.54. Following the completion of the transaction, the chief financial officer now owns 170,110 shares in the company, valued at approximately $928,800.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Matthew W. Foehr purchased 225,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were bought 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 directly owns 2,908,803 shares in the company, valued at approximately $15,096,687.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kurt A. Gustafson sold 11,849 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $5.46, for a total value of $64,695.54. Following the completion of the transaction, the chief financial officer now directly owns 170,110 shares in the company, valued at approximately $928,800.60. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

OmniAb Company 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.