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

OmniAb (NASDAQ:OABI) released its quarterly earnings data on Tuesday. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.01, Zacks reports. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%.

OmniAb Stock Performance

Shares of OABI traded up $0.02 during mid-day trading on Tuesday, hitting $3.19. 511,112 shares of the company traded hands, compared to its average volume of 515,927. The stock has a 50-day moving average price of $3.42 and a two-hundred day moving average price of $3.81. OmniAb has a 1 year low of $3.05 and a 1 year high of $5.72. The stock has a market cap of $450.48 million, a price-to-earnings ratio of -5.15 and a beta of -0.14.

Insider Activity

In other OmniAb news, CFO Kurt A. Gustafson sold 7,255 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $3.67, for a total transaction of $26,625.85. Following the completion of the sale, the chief financial officer now directly owns 206,211 shares of the company’s stock, valued at approximately $756,794.37. This represents a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles S. Berkman sold 25,489 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total transaction of $82,584.36. Following the completion of the transaction, the insider now owns 343,190 shares of the company’s stock, valued at approximately $1,111,935.60. The trade was a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,260 shares of company stock valued at $376,601 over the last three months. Insiders own 8.60% of the company’s stock.

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.