OmniAb (NASDAQ:OABI) CFO Sells $46,887.12 in Stock

OmniAb, Inc. (NASDAQ:OABI) CFO Kurt Gustafson sold 23,922 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $1.96, for a total value of $46,887.12. Following the transaction, the chief financial officer owned 252,688 shares of the company’s stock, valued at $495,268.48. The trade was a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

OmniAb Stock Performance

OABI opened at $1.99 on Tuesday. The firm’s fifty day moving average is $1.65 and its two-hundred day moving average is $1.71. The firm has a market cap of $286.48 million, a PE ratio of -3.43 and a beta of 0.13. OmniAb, Inc. has a twelve month low of $1.22 and a twelve month high of $4.17.

OmniAb (NASDAQ:OABI) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $2.24 million during the quarter, compared to analyst estimates of $5.64 million. OmniAb had a negative net margin of 301.83% and a negative return on equity of 23.14%. Equities analysts forecast that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OABI. Osaic Holdings Inc. grew its holdings in shares of OmniAb by 214.4% during the second quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock worth $25,000 after buying an additional 9,716 shares in the last quarter. AQR Capital Management LLC acquired a new position in OmniAb during the 1st quarter worth approximately $25,000. BNP Paribas Financial Markets grew its stake in shares of OmniAb by 92.5% during the 3rd 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. PNC Financial Services Group Inc. raised its holdings in shares of OmniAb by 279.4% in the first quarter. PNC Financial Services Group Inc. now owns 16,276 shares of the company’s stock valued at $39,000 after purchasing an additional 11,986 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in shares of 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 purchasing an additional 11,919 shares in the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of OmniAb in a report on Monday, December 1st. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

OmniAb Company 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.