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

OmniAb, Inc. (NASDAQ:OABI - Get Free Report) CFO Kurt A. Gustafson sold 11,963 shares of the 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 sale, the chief financial officer now directly owns 217,492 shares in the company, valued at $515,456.04. This trade represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

OmniAb Trading Down 6.3 %

Shares of NASDAQ:OABI traded down $0.14 during midday trading on Friday, hitting $2.09. The company had a trading volume of 639,942 shares, compared to its average volume of 551,181. OmniAb, Inc. has a 12 month low of $2.01 and a 12 month high of $5.45. The firm has a fifty day simple moving average of $3.17 and a 200 day simple moving average of $3.64. The stock has a market cap of $255.26 million, a price-to-earnings ratio of -3.37 and a beta of -0.14.

OmniAb (NASDAQ:OABI - Get Free Report) 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. The firm had revenue of $10.80 million for the quarter, compared to analyst estimates of $10.13 million. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Equities analysts forecast that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

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Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On OmniAb

A number of hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC increased its stake in OmniAb by 33.3% during the 4th quarter. Squarepoint Ops LLC now owns 39,264 shares of the company's stock worth $139,000 after purchasing an additional 9,809 shares in the last quarter. Sherbrooke Park Advisers LLC boosted its holdings in shares of OmniAb by 53.5% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 17,226 shares of the company's stock valued at $61,000 after buying an additional 6,001 shares during the period. ProShare Advisors LLC boosted its holdings 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 buying an additional 7,302 shares during the period. Northeast Financial Consultants Inc bought a new stake in shares of OmniAb during the fourth quarter worth $393,000. Finally, Millennium Management LLC raised its holdings in shares of 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 during the period. Institutional investors and hedge funds 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.