OmniAb (NASDAQ:OABI) CFO Sells $10,300.37 in Stock

OmniAb, Inc. (NASDAQ:OABI) CFO Kurt Gustafson sold 6,913 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $1.49, for a total transaction of $10,300.37. Following the completion of the transaction, the chief financial officer owned 261,483 shares in the company, valued at $389,609.67. This represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

OmniAb Stock Down 1.9%

NASDAQ OABI traded down $0.03 during trading hours on Tuesday, hitting $1.51. The company’s stock had a trading volume of 372,768 shares, compared to its average volume of 305,484. The stock has a fifty day moving average of $1.74 and a 200 day moving average of $1.76. OmniAb, Inc. has a twelve month low of $1.22 and a twelve month high of $2.30. The firm has a market capitalization of $218.62 million, a P/E ratio of -2.65 and a beta of 0.17.

OmniAb (NASDAQ:OABI) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). OmniAb had a negative net margin of 347.04% and a negative return on equity of 23.99%. The business had revenue of $8.38 million during the quarter, compared to analyst estimates of $9.00 million. On average, analysts predict that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Institutional Investors Weigh In On OmniAb

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC bought a new stake in OmniAb in the first quarter valued at approximately $25,000. Osaic Holdings Inc. increased its stake in OmniAb by 214.4% in the second quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock valued at $25,000 after purchasing an additional 9,716 shares in the last quarter. BNP Paribas Financial Markets increased its stake in OmniAb by 92.5% in the third quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company’s stock valued at $35,000 after purchasing an additional 10,438 shares in the last quarter. Cerity Partners LLC increased its stake in OmniAb by 111.5% in the second quarter. Cerity Partners LLC now owns 22,612 shares of the company’s stock valued at $39,000 after purchasing an additional 11,919 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in OmniAb by 96.6% in the fourth quarter. SG Americas Securities LLC now owns 23,141 shares of the company’s stock valued at $43,000 after purchasing an additional 11,369 shares in the last quarter. Institutional investors own 72.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on OABI. Wall Street Zen upgraded shares of OmniAb from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of OmniAb in a research note on Monday, December 22nd. Finally, Benchmark reaffirmed a “buy” rating on shares of OmniAb in a research note on Friday, March 6th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.50.

OmniAb Company 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.