China Universal Asset Management Co. Ltd. Acquires 8,909 Shares of OmniAb, Inc. (NASDAQ:OABI)

China Universal Asset Management Co. Ltd. raised its stake in shares of OmniAb, Inc. (NASDAQ:OABI) by 64.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 22,727 shares of the company’s stock after purchasing an additional 8,909 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in OmniAb were worth $96,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bellevue Group AG purchased a new stake in OmniAb during the first quarter valued at about $62,000. Catalina Capital Group LLC bought a new stake in OmniAb during the first quarter worth about $69,000. CWC Advisors LLC. purchased a new stake in OmniAb in the third quarter worth about $54,000. Price T Rowe Associates Inc. MD increased its stake in shares of OmniAb by 13.1% during the first 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 in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of OmniAb by 11.0% during the second quarter. Sei Investments Co. now owns 29,024 shares of the company’s stock valued at $109,000 after acquiring an additional 2,888 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OABI shares. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a report on Monday, August 12th. Benchmark restated a “buy” rating and set a $8.00 target price on shares of OmniAb in a research note on Monday, August 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $7.00 price objective on shares of OmniAb in a report on Friday, August 16th.

OmniAb Stock Performance

OABI opened at $4.09 on Friday. The stock’s 50 day moving average price is $4.15 and its 200-day moving average price is $4.30. OmniAb, Inc. has a one year low of $3.56 and a one year high of $6.72. The stock has a market cap of $483.29 million, a price-to-earnings ratio of -6.60 and a beta of -0.13.

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. The firm had revenue of $7.61 million during the quarter, compared to analyst estimates of $6.52 million. OmniAb had a negative net margin of 287.29% and a negative return on equity of 20.21%. During the same period in the previous year, the firm earned ($0.15) earnings per share. As a group, analysts predict that OmniAb, Inc. will post -0.58 earnings per share 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.