The Manufacturers Life Insurance Company Buys Shares of 39,103 OmniAb, Inc. (NASDAQ:OABI)

The Manufacturers Life Insurance Company purchased a new position in OmniAb, Inc. (NASDAQ:OABI) during the second quarter, HoldingsChannel.com reports. The fund purchased 39,103 shares of the company’s stock, valued at approximately $147,000.

Several other hedge funds and other institutional investors have also modified their holdings of OABI. Hartline Investment Corp acquired a new stake in OmniAb during the first quarter worth about $54,000. Bellevue Group AG acquired a new stake in shares of OmniAb during the 1st quarter worth approximately $62,000. Catalina Capital Group LLC bought a new stake in shares of OmniAb in the 1st quarter worth approximately $69,000. Price T Rowe Associates Inc. MD boosted its position in OmniAb by 13.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,843 shares of the company’s stock valued at $146,000 after purchasing an additional 3,108 shares during the period. Finally, Sei Investments Co. grew its stake in OmniAb by 11.0% during the 2nd quarter. Sei Investments Co. now owns 29,024 shares of the company’s stock worth $109,000 after buying an additional 2,888 shares during the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

OmniAb Stock Up 0.2 %

Shares of NASDAQ:OABI opened at $4.08 on Friday. The company’s fifty day moving average is $4.19 and its two-hundred day moving average is $4.37. The company has a market cap of $479.87 million, a P/E ratio of -6.38 and a beta of -0.13. OmniAb, Inc. has a 12-month low of $3.56 and a 12-month high of $6.72.

OmniAb (NASDAQ:OABI) last issued its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $7.61 million during the quarter, compared to analyst estimates of $6.52 million. During the same quarter last year, the business posted ($0.15) EPS. Equities research analysts anticipate that OmniAb, Inc. will post -0.58 earnings per share for the current year.

Analysts Set New Price Targets

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

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.