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 OmniAb stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $2.37, for a total transaction of $28,352.31. Following the transaction, the chief financial officer now directly owns 217,492 shares in the company, valued at $515,456.04. This represents a 5.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

OmniAb Price Performance

Shares of OABI traded down $0.12 during mid-day trading on Tuesday, reaching $2.28. 574,527 shares of the company’s stock traded hands, compared to its average volume of 551,491. OmniAb, Inc. has a 12 month low of $2.23 and a 12 month high of $5.54. The stock has a market cap of $278.47 million, a P/E ratio of -3.68 and a beta of -0.14. The stock’s 50-day moving average is $3.23 and its two-hundred day moving average is $3.67.

OmniAb (NASDAQ:OABI) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01. The company had revenue of $10.80 million during the quarter, compared to analysts’ expectations 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 previous year, the company earned ($0.14) EPS. Research analysts predict that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank of Canada lowered their price target on OmniAb from $7.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, March 27th. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research report on Wednesday, March 19th. Finally, Benchmark dropped their target price on shares of OmniAb from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, March 20th.

Institutional Trading of OmniAb

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its holdings in OmniAb by 321.5% in the third quarter. Barclays PLC now owns 143,215 shares of the company’s stock worth $606,000 after purchasing an additional 109,236 shares in the last quarter. FMR LLC grew its position in shares of OmniAb by 10.6% in the 3rd quarter. FMR LLC now owns 138,813 shares of the company’s stock worth $587,000 after buying an additional 13,324 shares during the last quarter. Murchinson Ltd. bought a new position in shares of OmniAb during the 3rd quarter worth approximately $4,230,000. State Street Corp lifted its position in OmniAb by 1.7% during the third 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 during the last quarter. Finally, Choreo LLC purchased a new stake in OmniAb during the fourth quarter valued at approximately $41,000. Institutional investors own 72.08% 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.