Kornitzer Capital Management Inc. KS Decreases Position in OmniAb, Inc. (NASDAQ:OABI)

Kornitzer Capital Management Inc. KS lessened its position in OmniAb, Inc. (NASDAQ:OABI) by 4.9% during the third quarter, Holdings Channel.com reports. The fund owned 898,845 shares of the company’s stock after selling 46,125 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in OmniAb were worth $3,802,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Rice Hall James & Associates LLC grew its holdings in OmniAb by 6.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 2,722,321 shares of the company’s stock worth $11,515,000 after acquiring an additional 163,038 shares during the last quarter. Palumbo Wealth Management LLC grew its holdings in OmniAb by 12.5% in the 3rd quarter. Palumbo Wealth Management LLC now owns 24,640 shares of the company’s stock worth $104,000 after acquiring an additional 2,744 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in OmniAb by 64.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,727 shares of the company’s stock worth $96,000 after acquiring an additional 8,909 shares during the last quarter. CWC Advisors LLC. bought a new stake in OmniAb in the 3rd quarter worth $54,000. Finally, Woodstock Corp grew its holdings in OmniAb by 5.6% in the 3rd quarter. Woodstock Corp now owns 792,853 shares of the company’s stock worth $3,354,000 after acquiring an additional 42,310 shares during the last quarter. Institutional investors own 72.08% of the company’s stock.

OmniAb Price Performance

NASDAQ:OABI opened at $4.53 on Friday. OmniAb, Inc. has a one year low of $3.56 and a one year high of $6.72. The company’s 50-day simple moving average is $4.17 and its 200 day simple moving average is $4.29.

OmniAb (NASDAQ:OABI) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) 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 analyst estimates of $6.52 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. On average, equities research analysts anticipate that OmniAb, Inc. will post -0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OABI. Royal Bank of Canada reaffirmed an “outperform” rating and set a $7.00 target price on shares of OmniAb in a research note on Friday, August 16th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of OmniAb in a research note on Monday, August 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of OmniAb in a research note on Monday, August 19th.

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.