Insider Selling: OmniAb, Inc. (NASDAQ:OABI) CEO Sells 19,382 Shares of Stock

OmniAb, Inc. (NASDAQ:OABI - Get Free Report) CEO Matthew W. Foehr sold 19,382 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $2.00, for a total transaction of $38,764.00. Following the completion of the transaction, the chief executive officer now directly owns 3,796,236 shares of the company's stock, valued at $7,592,472. This trade represents a 0.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

OmniAb Price Performance

Shares of OABI traded up $0.08 during midday trading on Friday, hitting $1.93. The stock had a trading volume of 851,877 shares, compared to its average volume of 559,772. The firm has a market cap of $235.72 million, a price-to-earnings ratio of -3.11 and a beta of 0.06. The company has a 50 day simple moving average of $2.99 and a two-hundred day simple moving average of $3.52. OmniAb, Inc. has a twelve month low of $1.81 and a twelve month high of $5.25.

OmniAb (NASDAQ:OABI - Get Free Report) last announced its earnings results on Tuesday, March 18th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $10.13 million. During the same quarter last year, the firm earned ($0.14) EPS. Analysts forecast that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

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Institutional Trading of OmniAb

A number of institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC increased its stake in OmniAb by 33.3% in the 4th quarter. Squarepoint Ops LLC now owns 39,264 shares of the company's stock valued at $139,000 after buying an additional 9,809 shares during the last quarter. Sherbrooke Park Advisers LLC grew its holdings in shares of OmniAb by 53.5% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 17,226 shares of the company's stock valued at $61,000 after acquiring an additional 6,001 shares in the last quarter. ProShare Advisors LLC increased its position in shares of OmniAb by 29.9% in the fourth quarter. ProShare Advisors LLC now owns 31,724 shares of the company's stock valued at $112,000 after acquiring an additional 7,302 shares during the last quarter. Northeast Financial Consultants Inc acquired a new stake in shares of OmniAb in the fourth quarter valued at about $393,000. Finally, Millennium Management LLC raised its holdings in OmniAb by 49.7% during the fourth quarter. Millennium Management LLC now owns 186,745 shares of the company's stock worth $661,000 after acquiring an additional 61,993 shares in the last quarter. Institutional investors own 72.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Royal Bank of Canada lowered their price target on OmniAb from $7.00 to $4.00 and set an "outperform" rating for the company in a report on Thursday, March 27th. HC Wainwright reissued a "buy" rating and set a $11.00 target price on shares of OmniAb in a research note 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 on the stock in a report on Thursday, March 20th.

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.