John L. Higgins Purchases 125,750 Shares of OmniAb, Inc. (NASDAQ:OABI) Stock

OmniAb, Inc. (NASDAQ:OABI) Director John L. Higgins bought 125,750 shares of OmniAb stock in a transaction on Thursday, March 20th. The shares were acquired at an average cost of $2.35 per share, for a total transaction of $295,512.50. Following the completion of the acquisition, the director now directly owns 2,762,887 shares in the company, valued at approximately $6,492,784.45. The trade was a 4.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

OmniAb Stock Performance

NASDAQ:OABI opened at $2.53 on Friday. The firm’s fifty day moving average is $3.34 and its 200-day moving average is $3.77. OmniAb, Inc. has a 52 week low of $2.23 and a 52 week high of $5.63. The firm has a market cap of $357.28 million, a P/E ratio of -4.08 and a beta of -0.14.

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 the consensus estimate of ($0.13) by $0.01. The business had revenue of $10.80 million for the quarter, compared to analyst estimates of $10.13 million. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. During the same period in the prior year, the firm earned ($0.14) earnings per share. As a group, sell-side analysts anticipate that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC bought a new position in OmniAb during the fourth quarter worth $38,000. Choreo LLC bought a new position in OmniAb during the fourth quarter worth $41,000. Rangeley Capital LLC bought a new position in OmniAb during the fourth quarter worth $41,000. KLP Kapitalforvaltning AS acquired a new position in OmniAb during the fourth quarter worth $49,000. Finally, Walleye Capital LLC acquired a new position in OmniAb during the third quarter worth $61,000. 72.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OABI has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of OmniAb in a report on Wednesday. Benchmark reduced their price objective on shares of OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday.

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.