OmniAb (NASDAQ:OABI) Insider Sells $10,663.93 in Stock
by Kim Johansen · The Markets DailyOmniAb, Inc. (NASDAQ:OABI – Get Free Report) insider Charles Berkman sold 7,157 shares of the company’s stock in a transaction 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 in the company, valued at approximately $594,636.65. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
OmniAb Price Performance
OmniAb stock traded down $0.03 during mid-day trading on Tuesday, reaching $1.51. 372,768 shares of the stock traded hands, compared to its average volume of 305,484. The stock has a market capitalization of $218.62 million, a PE ratio of -2.65 and a beta of 0.17. OmniAb, Inc. has a 12-month low of $1.22 and a 12-month high of $2.30. The business’s 50-day moving average is $1.74 and its 200-day moving average is $1.76.
OmniAb (NASDAQ:OABI – Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The firm had revenue of $8.38 million for the quarter, compared to analysts’ expectations of $9.00 million. OmniAb had a negative net margin of 347.04% and a negative return on equity of 23.99%. Equities analysts anticipate that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research firms recently commented on OABI. Wall Street Zen upgraded OmniAb from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of OmniAb in a research report on Monday, December 22nd. Finally, Benchmark reiterated a “buy” rating on shares of OmniAb in a research report on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.50.
Read Our Latest Research Report on OmniAb
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in OABI. AQR Capital Management LLC bought a new position in shares of OmniAb in the first quarter worth about $25,000. Osaic Holdings Inc. raised its stake in shares of 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 buying an additional 9,716 shares during the period. BNP Paribas Financial Markets raised its stake in shares of 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 buying an additional 10,438 shares during the period. Cerity Partners LLC raised its stake 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 buying an additional 11,919 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of OmniAb by 96.6% in the fourth quarter. SG Americas Securities LLC now owns 23,141 shares of the company’s stock worth $43,000 after buying an additional 11,369 shares during the period. Institutional investors own 72.08% of the company’s stock.
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.