OmniAb, Inc. (NASDAQ:OABI) CFO Sells $28,352.31 in Stock

OmniAb, Inc. (NASDAQ:OABI - Get Free Report) CFO Kurt A. Gustafson sold 11,963 shares of OmniAb stock in a transaction 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 owns 217,492 shares in the company, valued at approximately $515,456.04. The trade was a 5.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

OmniAb Trading Down 6.3 %

NASDAQ:OABI traded down $0.14 during mid-day trading on Friday, hitting $2.09. 639,942 shares of the company's stock were exchanged, compared to its average volume of 551,682. OmniAb, Inc. has a fifty-two week low of $2.01 and a fifty-two week high of $5.45. The firm has a market capitalization of $255.26 million, a P/E ratio of -3.37 and a beta of 0.06. The company has a 50 day simple moving average of $3.17 and a 200-day simple moving average of $3.63.

OmniAb (NASDAQ:OABI - Get Free Report) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01. The company had revenue of $10.80 million for 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 quarter in the previous year, the firm posted ($0.14) earnings per share. As a group, analysts expect that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On OmniAb

A number of hedge funds have recently made changes to their positions in OABI. Barclays PLC increased its position in OmniAb by 321.5% during the 3rd quarter. Barclays PLC now owns 143,215 shares of the company's stock valued at $606,000 after purchasing an additional 109,236 shares during the period. FMR LLC lifted its holdings in OmniAb by 10.6% in the third quarter. FMR LLC now owns 138,813 shares of the company's stock valued at $587,000 after buying an additional 13,324 shares during the period. Murchinson Ltd. bought a new stake in OmniAb during the third quarter valued at $4,230,000. State Street Corp grew its holdings in OmniAb by 1.7% during the 3rd quarter. State Street Corp now owns 2,031,676 shares of the company's stock worth $8,594,000 after acquiring an additional 34,654 shares during the period. Finally, Choreo LLC bought a new position in shares of OmniAb in the 4th quarter worth about $41,000. 72.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OABI. HC Wainwright reaffirmed a "buy" rating and set a $11.00 price target on shares of OmniAb in a report on Wednesday, March 19th. Royal Bank of Canada decreased their target price on shares of OmniAb from $7.00 to $4.00 and set an "outperform" rating on the stock in a research note on Thursday, March 27th. Finally, Benchmark dropped their price target on OmniAb from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Thursday, March 20th.

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.