Insider Selling: OmniAb, Inc. (NASDAQ:OABI) CEO Sells $38,764.00 in Stock

OmniAb, Inc. (NASDAQ:OABI) CEO Matthew W. Foehr sold 19,382 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $2.00, for a total value of $38,764.00. Following the completion of the sale, the chief executive officer now directly owns 3,796,236 shares in the company, valued at $7,592,472. This represents a 0.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

OmniAb Stock Up 5.3 %

Shares of NASDAQ OABI opened at $2.00 on Thursday. The stock has a market capitalization of $244.27 million, a price-to-earnings ratio of -3.23 and a beta of 0.06. The stock’s fifty day simple moving average is $3.04 and its 200 day simple moving average is $3.55. OmniAb, Inc. has a 52-week low of $1.81 and a 52-week high of $5.32.

OmniAb (NASDAQ:OABI) last issued its earnings results on Tuesday, March 18th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $10.80 million for the quarter, compared to analysts’ expectations of $10.13 million. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. During the same period in the previous year, the firm posted ($0.14) EPS. As a group, analysts anticipate that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OABI. JPMorgan Chase & Co. grew its holdings in shares of OmniAb by 582.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,001,797 shares of the company’s stock valued at $3,546,000 after buying an additional 854,929 shares in the last quarter. Royce & Associates LP grew its stake in OmniAb by 438.6% in the fourth quarter. Royce & Associates LP now owns 707,080 shares of the company’s stock valued at $2,503,000 after purchasing an additional 575,796 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in OmniAb by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,025,674 shares of the company’s stock valued at $10,711,000 after purchasing an additional 142,513 shares in the last quarter. Northeast Financial Consultants Inc purchased a new position in OmniAb in the fourth quarter valued at about $393,000. Finally, Barclays PLC grew its stake in OmniAb by 321.5% in the third quarter. Barclays PLC now owns 143,215 shares of the company’s stock valued at $606,000 after purchasing an additional 109,236 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

OABI has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a research note on Wednesday, March 19th. Benchmark dropped their price objective on OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Finally, Royal Bank of Canada dropped their price objective on OmniAb from $7.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday, March 27th.

About OmniAb

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.