Whitefort Capital Management LP Takes $25.21 Billion Position in OmniAb, Inc. $OABI

Whitefort Capital Management LP purchased a new position in OmniAb, Inc. (NASDAQ:OABI) during the second quarter, HoldingsChannel.com reports. The fund purchased 10,248,658 shares of the company’s stock, valued at approximately $25,211,699,000. OmniAb accounts for approximately 6.2% of Whitefort Capital Management LP’s investment portfolio, making the stock its 7th biggest position. Whitefort Capital Management LP owned approximately 0.07% of OmniAb as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in OABI. Osaic Holdings Inc. raised its stake in OmniAb by 214.4% during the second quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock valued at $25,000 after buying an additional 9,716 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of OmniAb in the first quarter worth $25,000. Legal & General Group Plc purchased a new stake in shares of OmniAb in the second quarter worth $28,000. BNP Paribas Financial Markets increased its holdings in shares of OmniAb by 92.5% during the third quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company’s stock valued at $35,000 after acquiring an additional 10,438 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of OmniAb during the second quarter valued at $37,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

OmniAb Trading Down 1.1%

Shares of OABI opened at $4.66 on Wednesday. The business’s fifty day simple moving average is $2.63 and its two-hundred day simple moving average is $2.13. OmniAb, Inc. has a 12 month low of $1.30 and a 12 month high of $4.78. The company has a market cap of $674.67 million, a price-to-earnings ratio of -12.94 and a beta of 0.45.

OmniAb (NASDAQ:OABI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. OmniAb had a negative return on equity of 16.59% and a negative net margin of 115.12%.The firm had revenue of $13.41 million during the quarter, compared to analysts’ expectations of $4.69 million. As a group, research analysts forecast that OmniAb, Inc. will post -0.35 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OABI. Weiss Ratings upgraded shares of OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.00.

OmniAb Profile

OmniAb, Inc (NASDAQ: OABI) operates as a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s integrated antibody discovery platform combines proprietary transgenic animal models, in vitro screening, and in silico engineering to accelerate lead identification and optimization. OmniAb offers both fee-for-service collaborations and license agreements, enabling biopharmaceutical partners to leverage its suite of technologies for programs spanning oncology, immunology, and other therapeutic areas.

Founded in 2016 and headquartered in Seattle, Washington, OmniAb went public in May 2021.