Palumbo Wealth Management LLC Increases Stake in OmniAb, Inc. (NASDAQ:OABI)

by · The Markets Daily

Palumbo Wealth Management LLC increased its holdings in shares of OmniAb, Inc. (NASDAQ:OABI – Free Report) by 12.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in OABI. Hartline Investment Corp purchased a new stake in OmniAb during the 1st quarter worth approximately $54,000. CWC Advisors LLC. acquired a new position in OmniAb during the 3rd quarter worth approximately $54,000. Bellevue Group AG acquired a new position in OmniAb during the 1st quarter worth approximately $62,000. Catalina Capital Group LLC acquired a new position in shares of OmniAb in the 1st quarter valued at $69,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in OmniAb by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,727 shares of the company’s stock worth $96,000 after purchasing an additional 8,909 shares during the period. 72.08% of the stock is owned by hedge funds and other institutional investors.

OmniAb Trading Up 0.3 %

Shares of OmniAb stock traded up $0.01 during mid-day trading on Thursday, hitting $4.00. 27,820 shares of the stock were exchanged, compared to its average volume of 500,917. The company has a 50-day simple moving average of $4.15 and a 200 day simple moving average of $4.30. OmniAb, Inc. has a twelve month low of $3.56 and a twelve month high of $6.72. The stock has a market capitalization of $470.46 million, a price-to-earnings ratio of -6.23 and a beta of -0.13.

OmniAb (NASDAQ:OABI – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.05. OmniAb had a negative net margin of 287.29% and a negative return on equity of 20.21%. The business had revenue of $7.61 million for the quarter, compared to analysts’ expectations of $6.52 million. During the same period last year, the company earned ($0.15) earnings per share. Equities research analysts forecast that OmniAb, Inc. will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

OABI has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of OmniAb in a research note on Monday, August 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $7.00 price target on shares of OmniAb in a report on Friday, August 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of OmniAb in a report on Monday, August 12th.

View Our Latest Stock Analysis on OABI

About OmniAb

(Free Report)

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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