Private Management Group Inc. Sells 16,686 Shares of OmniAb, Inc. (NASDAQ:OABI)

Private Management Group Inc. trimmed its stake in OmniAb, Inc. (NASDAQ:OABI) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,233,048 shares of the company’s stock after selling 16,686 shares during the period. Private Management Group Inc. owned 1.58% of OmniAb worth $7,905,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC raised its holdings in OmniAb by 321.5% in the third quarter. Barclays PLC now owns 143,215 shares of the company’s stock worth $606,000 after purchasing an additional 109,236 shares in the last quarter. FMR LLC lifted its position in OmniAb by 10.6% during the third quarter. FMR LLC now owns 138,813 shares of the company’s stock valued at $587,000 after acquiring an additional 13,324 shares during the last quarter. Atria Investments Inc acquired a new stake in OmniAb in the third quarter valued at approximately $148,000. Murchinson Ltd. purchased a new position in OmniAb in the third quarter worth $4,230,000. Finally, State Street Corp raised its stake in OmniAb by 1.7% in the third quarter. State Street Corp now owns 2,031,676 shares of the company’s stock valued at $8,594,000 after buying an additional 34,654 shares during the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at OmniAb

In other OmniAb news, CEO Matthew W. Foehr sold 41,811 shares of OmniAb stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $3.24, for a total transaction of $135,467.64. Following the sale, the chief executive officer now owns 3,749,639 shares of the company’s stock, valued at $12,148,830.36. The trade was a 1.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kurt A. Gustafson sold 15,526 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $3.24, for a total transaction of $50,304.24. Following the completion of the sale, the chief financial officer now owns 212,720 shares of the company’s stock, valued at $689,212.80. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,826 shares of company stock valued at $268,356 over the last quarter. 8.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OABI shares. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a report on Thursday, November 14th. Benchmark reissued a “buy” rating and set a $8.00 target price on shares of OmniAb in a research report on Thursday, November 14th.

OmniAb Stock Up 7.6 %

OABI opened at $3.56 on Thursday. The company has a market cap of $502.73 million, a PE ratio of -5.74 and a beta of -0.12. OmniAb, Inc. has a twelve month low of $3.10 and a twelve month high of $6.55. The company has a 50-day moving average price of $3.55 and a 200 day moving average price of $3.98.

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.