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 company’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $2.00, for a total transaction of $38,764.00. Following the completion of the sale, the chief executive officer now owns 3,796,236 shares in the company, valued at approximately $7,592,472. This trade represents a 0.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

OmniAb Stock Down 9.1 %

NASDAQ:OABI opened at $1.90 on Wednesday. The stock has a market cap of $232.06 million, a price-to-earnings ratio of -3.06 and a beta of 0.06. The company’s 50 day moving average price is $3.09 and its 200-day moving average price is $3.58. OmniAb, Inc. has a 52 week low of $1.88 and a 52 week high of $5.45.

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

Institutional Investors Weigh In On OmniAb

Several large investors have recently bought and sold shares of OABI. Squarepoint Ops LLC grew its stake in shares of OmniAb by 33.3% in the fourth quarter. Squarepoint Ops LLC now owns 39,264 shares of the company’s stock worth $139,000 after acquiring an additional 9,809 shares during the period. Sherbrooke Park Advisers LLC grew its position in OmniAb by 53.5% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 17,226 shares of the company’s stock worth $61,000 after purchasing an additional 6,001 shares during the period. ProShare Advisors LLC lifted its holdings in shares of OmniAb by 29.9% during the 4th quarter. ProShare Advisors LLC now owns 31,724 shares of the company’s stock valued at $112,000 after buying an additional 7,302 shares during the period. Northeast Financial Consultants Inc purchased a new position in shares of OmniAb in the 4th quarter worth $393,000. Finally, Millennium Management LLC boosted its stake in shares of OmniAb by 49.7% in the 4th quarter. Millennium Management LLC now owns 186,745 shares of the company’s stock worth $661,000 after buying an additional 61,993 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OABI. Royal Bank of Canada dropped their price target on OmniAb from $7.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, March 27th. Benchmark cut their target price 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, HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of OmniAb in a research report on Wednesday, March 19th.

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.