OmniAb (NASDAQ:OABI) Insider Charles Berkman Sells 7,157 Shares of Stock

OmniAb, Inc. (NASDAQ:OABI) insider Charles Berkman sold 7,157 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 value of $10,663.93. Following the transaction, the insider directly owned 399,085 shares of the company’s stock, valued at $594,636.65. The trade was a 1.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

OmniAb Price Performance

NASDAQ OABI opened at $1.51 on Wednesday. OmniAb, Inc. has a 1-year low of $1.22 and a 1-year high of $2.30. The company has a market cap of $218.62 million, a PE ratio of -2.65 and a beta of 0.17. The stock’s 50 day simple moving average is $1.74 and its 200-day simple moving average is $1.76.

OmniAb (NASDAQ:OABI) last posted its quarterly earnings data on Wednesday, March 4th. The company reported ($0.11) EPS 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 firm had revenue of $8.38 million during the quarter, compared to analyst estimates of $9.00 million. On average, equities research analysts anticipate that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of OmniAb by 9.9% in the fourth quarter. Invesco Ltd. now owns 136,309 shares of the company’s stock valued at $252,000 after purchasing an additional 12,258 shares during the period. Millennium Management LLC raised its stake in OmniAb by 135.6% during the fourth quarter. Millennium Management LLC now owns 673,395 shares of the company’s stock worth $1,246,000 after purchasing an additional 387,594 shares during the period. Boothbay Fund Management LLC purchased a new position in OmniAb during the fourth quarter worth about $88,000. Bridgeway Capital Management LLC raised its stake in OmniAb by 29.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 198,900 shares of the company’s stock worth $368,000 after purchasing an additional 45,000 shares during the period. Finally, Cadian Capital Management LP boosted its holdings in OmniAb by 20.7% in the 4th quarter. Cadian Capital Management LP now owns 4,434,954 shares of the company’s stock valued at $8,205,000 after purchasing an additional 759,386 shares during the last quarter. Institutional investors and hedge funds 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.