OmniAb, Inc. (NASDAQ:OABI) CFO Kurt A. Gustafson Sells 11,963 Shares

OmniAb, Inc. (NASDAQ:OABI) CFO Kurt A. Gustafson sold 11,963 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $2.37, for a total value of $28,352.31. Following the completion of the transaction, the chief financial officer now directly owns 217,492 shares in the company, valued at $515,456.04. The trade was a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

OmniAb Price Performance

NASDAQ:OABI opened at $2.28 on Wednesday. The stock has a market cap of $278.47 million, a P/E ratio of -3.68 and a beta of -0.14. The company has a fifty day moving average price of $3.23 and a 200 day moving average price of $3.67. OmniAb, Inc. has a one year low of $2.23 and a one year high of $5.54.

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

Institutional Trading of OmniAb

Several institutional investors have recently modified their holdings of OABI. Janus Henderson Group PLC lifted its position in OmniAb by 1.1% in the fourth quarter. Janus Henderson Group PLC now owns 7,960,321 shares of the company’s stock worth $28,179,000 after purchasing an additional 88,993 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of OmniAb by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,025,674 shares of the company’s stock worth $10,711,000 after acquiring an additional 142,513 shares during the period. Geode Capital Management LLC lifted its holdings in shares of OmniAb by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,353,442 shares of the company’s stock worth $8,333,000 after acquiring an additional 28,061 shares during the period. State Street Corp boosted its position in shares of OmniAb by 1.7% during the 3rd quarter. State Street Corp now owns 2,031,676 shares of the company’s stock valued at $8,594,000 after acquiring an additional 34,654 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in OmniAb by 582.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,001,797 shares of the company’s stock valued at $3,546,000 after acquiring an additional 854,929 shares during the period. Institutional investors and hedge funds own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OABI. Benchmark dropped their price target on shares of OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Royal Bank of Canada dropped their target price on shares of OmniAb from $7.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, March 27th. 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.