OmniAb (NASDAQ:OABI) CEO Sells $28,673.56 in Stock

OmniAb, Inc. (NASDAQ:OABI) CEO Matthew Foehr sold 19,244 shares of the firm’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $1.49, for a total value of $28,673.56. Following the completion of the transaction, the chief executive officer directly owned 4,420,492 shares in the company, valued at approximately $6,586,533.08. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

OmniAb Trading Down 1.9%

OmniAb stock traded down $0.03 during trading on Tuesday, reaching $1.51. The company had a trading volume of 372,768 shares, compared to its average volume of 305,484. OmniAb, Inc. has a 52 week low of $1.22 and a 52 week high of $2.30. The firm’s 50-day simple moving average is $1.74 and its 200 day simple moving average is $1.76. The firm has a market capitalization of $218.62 million, a price-to-earnings ratio of -2.65 and a beta of 0.17.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OABI shares. Wall Street Zen raised OmniAb from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Benchmark reissued a “buy” rating on shares of OmniAb in a report on Friday, March 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of OmniAb in a report on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, OmniAb presently has a consensus rating of “Hold” and a consensus target price of $4.50.

Institutional Investors Weigh In On OmniAb

Several large investors have recently made changes to their positions in OABI. Corient Private Wealth LLC purchased a new position in OmniAb in the second quarter worth about $53,000. Cerity Partners LLC grew its position in OmniAb by 111.5% in the second quarter. Cerity Partners LLC now owns 22,612 shares of the company’s stock worth $39,000 after acquiring an additional 11,919 shares in the last quarter. BNP Paribas Financial Markets grew its position in OmniAb by 92.5% in the third quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company’s stock worth $35,000 after acquiring an additional 10,438 shares in the last quarter. AQR Capital Management LLC purchased a new position in OmniAb in the first quarter worth about $25,000. Finally, Osaic Holdings Inc. grew its position in OmniAb by 214.4% in the second quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock worth $25,000 after acquiring an additional 9,716 shares in the last quarter. 72.08% of the stock is owned by institutional investors.

About OmniAb

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.