OmniAb (NASDAQ:OABI) CEO Sells $52,741.53 in Stock

OmniAb, Inc. (NASDAQ:OABI) CEO Matthew Foehr sold 30,843 shares of OmniAb stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $1.71, for a total transaction of $52,741.53. Following the completion of the sale, the chief executive officer directly owned 4,403,277 shares in the company, valued at $7,529,603.67. This represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

OmniAb Stock Down 0.6%

OABI opened at $1.70 on Friday. The firm’s fifty day simple moving average is $1.87 and its two-hundred day simple moving average is $1.76. OmniAb, Inc. has a 52-week low of $1.22 and a 52-week high of $3.93. The company has a market cap of $244.73 million, a price-to-earnings ratio of -2.93 and a beta of 0.13.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of OmniAb in a research report on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $6.67.

Institutional Investors Weigh In On OmniAb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OABI. Woodline Partners LP acquired a new position in OmniAb in the third quarter valued at about $4,571,000. Kent Lake PR LLC lifted its holdings in shares of OmniAb by 677.8% in the 2nd quarter. Kent Lake PR LLC now owns 1,750,000 shares of the company’s stock worth $3,045,000 after acquiring an additional 1,525,000 shares during the last quarter. ADAR1 Capital Management LLC lifted its holdings in shares of OmniAb by 234.4% in the 3rd quarter. ADAR1 Capital Management LLC now owns 1,090,628 shares of the company’s stock worth $1,745,000 after acquiring an additional 764,520 shares during the last quarter. Cadian Capital Management LP boosted its position in shares of OmniAb by 20.7% during the 4th quarter. Cadian Capital Management LP now owns 4,434,954 shares of the company’s stock worth $8,205,000 after purchasing an additional 759,386 shares during the period. Finally, Geode Capital Management LLC increased its holdings in OmniAb by 17.0% in the 4th quarter. Geode Capital Management LLC now owns 2,722,692 shares of the company’s stock valued at $5,038,000 after purchasing an additional 396,456 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

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.