Rangeley Capital LLC Takes $41,000 Position in OmniAb, Inc. (NASDAQ:OABI)

Rangeley Capital LLC purchased a new stake in shares of OmniAb, Inc. (NASDAQ:OABI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,500 shares of the company’s stock, valued at approximately $41,000.

Several other institutional investors have also recently bought and sold shares of OABI. Intech Investment Management LLC acquired a new stake in shares of OmniAb in the third quarter valued at $70,000. Charles Schwab Investment Management Inc. increased its position in OmniAb by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 787,522 shares of the company’s stock valued at $3,331,000 after acquiring an additional 16,219 shares in the last quarter. FMR LLC raised its stake in shares of OmniAb by 10.6% in the third quarter. FMR LLC now owns 138,813 shares of the company’s stock worth $587,000 after acquiring an additional 13,324 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of OmniAb during the third quarter worth approximately $61,000. Finally, PDT Partners LLC acquired a new position in shares of OmniAb during the third quarter worth approximately $123,000. Institutional investors own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of OmniAb in a research note on Wednesday, March 19th. Royal Bank of Canada lowered their price objective on OmniAb from $7.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, March 27th. Finally, Benchmark cut their target price on shares of OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th.

Insider Activity at OmniAb

In other OmniAb news, Director John L. Higgins purchased 125,750 shares of the stock in a transaction on Thursday, March 20th. The stock was bought at an average cost of $2.35 per share, for a total transaction of $295,512.50. Following the completion of the acquisition, the director now directly owns 2,762,887 shares of the company’s stock, valued at $6,492,784.45. The trade was a 4.77 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kurt A. Gustafson sold 11,963 shares of OmniAb stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $2.37, for a total value of $28,352.31. Following the transaction, the chief financial officer now owns 217,492 shares in the company, valued at $515,456.04. This trade represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,223 shares of company stock worth $404,953 in the last quarter. Corporate insiders own 8.60% of the company’s stock.

OmniAb Trading Up 1.3 %

OmniAb stock opened at $2.31 on Thursday. The firm has a market capitalization of $282.13 million, a P/E ratio of -3.73 and a beta of -0.14. The business has a 50-day moving average of $3.21 and a 200-day moving average of $3.66. OmniAb, Inc. has a 1 year low of $2.23 and a 1 year high of $5.54.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The firm had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $10.13 million. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Research analysts anticipate that OmniAb, Inc. will post -0.61 EPS for the current fiscal 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.