Palumbo Wealth Management LLC Has $75,000 Stock Position in OmniAb, Inc. (NASDAQ:OABI)

Palumbo Wealth Management LLC reduced its stake in shares of OmniAb, Inc. (NASDAQ:OABI) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,204 shares of the company’s stock after selling 3,436 shares during the quarter. Palumbo Wealth Management LLC’s holdings in OmniAb were worth $75,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of OABI. Murchinson Ltd. acquired a new stake in shares of OmniAb during the 3rd quarter worth $4,230,000. Rice Hall James & Associates LLC boosted its stake in OmniAb by 6.4% in the third quarter. Rice Hall James & Associates LLC now owns 2,722,321 shares of the company’s stock valued at $11,515,000 after buying an additional 163,038 shares in the last quarter. Barclays PLC boosted its stake in OmniAb by 321.5% in the third quarter. Barclays PLC now owns 143,215 shares of the company’s stock valued at $606,000 after buying an additional 109,236 shares in the last quarter. BBR Partners LLC boosted its stake in OmniAb by 250.0% in the third quarter. BBR Partners LLC now owns 70,000 shares of the company’s stock valued at $296,000 after buying an additional 50,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in OmniAb in the second quarter valued at about $147,000. 72.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Charles S. Berkman sold 25,489 shares of OmniAb stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total transaction of $82,584.36. Following the sale, the insider now directly owns 343,190 shares of the company’s stock, valued at approximately $1,111,935.60. This trade represents a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew W. Foehr sold 41,811 shares of OmniAb stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $3.24, for a total value of $135,467.64. Following the sale, the chief executive officer now directly owns 3,749,639 shares in the company, valued at $12,148,830.36. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,826 shares of company stock valued at $268,356. 8.60% of the stock is currently owned by corporate insiders.

OmniAb Trading Up 4.7 %

Shares of OABI stock opened at $3.81 on Monday. The business’s 50-day moving average price is $3.51 and its 200-day moving average price is $3.92. OmniAb, Inc. has a 12 month low of $3.10 and a 12 month high of $6.55. The firm has a market capitalization of $538.05 million, a price-to-earnings ratio of -6.15 and a beta of -0.12.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OABI. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a research note on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and issued a $8.00 price objective on shares of OmniAb in a research note on Thursday, November 14th.

About OmniAb

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.