JPMorgan Chase & Co. Sells 16,670 Shares of OmniAb, Inc. (NASDAQ:OABI)

JPMorgan Chase & Co. reduced its position in shares of OmniAb, Inc. (NASDAQ:OABI) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 146,868 shares of the company’s stock after selling 16,670 shares during the quarter. JPMorgan Chase & Co.’s holdings in OmniAb were worth $621,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. CWC Advisors LLC. bought a new stake in shares of OmniAb during the 3rd quarter valued at about $54,000. Walleye Capital LLC bought a new position in shares of OmniAb during the 3rd quarter valued at approximately $61,000. Intech Investment Management LLC bought a new position in shares of OmniAb during the 3rd quarter valued at approximately $70,000. China Universal Asset Management Co. Ltd. grew its stake in shares of OmniAb by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,727 shares of the company’s stock valued at $96,000 after acquiring an additional 8,909 shares during the period. Finally, Palumbo Wealth Management LLC grew its stake in shares of OmniAb by 12.5% during the 3rd quarter. Palumbo Wealth Management LLC now owns 24,640 shares of the company’s stock valued at $104,000 after acquiring an additional 2,744 shares during the period. 72.08% of the stock is currently owned by institutional investors.

Insider Transactions at OmniAb

In other news, CFO Kurt A. Gustafson sold 15,526 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total transaction of $50,304.24. Following the sale, the chief financial officer now directly owns 212,720 shares of the company’s stock, valued at $689,212.80. This represents a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles S. Berkman sold 25,489 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total value of $82,584.36. Following the sale, the insider now directly owns 343,190 shares in the company, valued at $1,111,935.60. This trade represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,826 shares of company stock valued at $268,356 in the last ninety days. Corporate insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OABI. Benchmark reiterated a “buy” rating and set a $8.00 price objective on shares of OmniAb in a research note on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of OmniAb in a report on Thursday, November 14th.

OmniAb Trading Up 5.3 %

NASDAQ OABI opened at $3.37 on Tuesday. The stock’s 50 day moving average is $3.64 and its 200 day moving average is $4.05. OmniAb, Inc. has a 12 month low of $3.11 and a 12 month high of $6.55. The stock has a market cap of $475.90 million, a PE ratio of -5.44 and a beta of -0.10.

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.