OmniAb (NASDAQ:OABI) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

OmniAb (NASDAQ:OABI) issued its quarterly earnings results on Tuesday. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01, Zacks reports. The company 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 prior year, the firm earned ($0.14) earnings per share.

OmniAb Stock Up 0.6 %

Shares of OABI stock opened at $3.19 on Wednesday. The stock has a market cap of $450.48 million, a price-to-earnings ratio of -5.15 and a beta of -0.14. The business’s fifty day moving average is $3.41 and its 200 day moving average is $3.80. OmniAb has a twelve month low of $3.05 and a twelve month high of $5.72.

Insider Buying and Selling

In related news, CEO Matthew W. Foehr sold 41,811 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total transaction of $135,467.64. Following the completion of the sale, the chief executive officer now owns 3,749,639 shares in the company, valued at approximately $12,148,830.36. This represents a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles S. Berkman sold 25,489 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $3.24, for a total value of $82,584.36. Following the sale, the insider now owns 343,190 shares of the company’s stock, valued at approximately $1,111,935.60. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,260 shares of company stock valued at $376,601 over the last ninety days. Company insiders own 8.60% of the company’s stock.

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.