John L. Higgins Acquires 125,750 Shares of OmniAb, Inc. (NASDAQ:OABI) Stock

OmniAb, Inc. (NASDAQ:OABI - Get Free Report) Director John L. Higgins purchased 125,750 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average cost of $2.35 per share, with a total value of $295,512.50. Following the transaction, the director now directly owns 2,762,887 shares of the company's stock, valued at approximately $6,492,784.45. This represents a 4.77 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

OmniAb Stock Performance

Shares of NASDAQ OABI traded up $0.01 during mid-day trading on Monday, hitting $2.54. 770,294 shares of the stock were exchanged, compared to its average volume of 539,334. OmniAb, Inc. has a twelve month low of $2.23 and a twelve month high of $5.63. The stock's fifty day simple moving average is $3.33 and its two-hundred day simple moving average is $3.75. The company has a market cap of $358.69 million, a P/E ratio of -4.10 and a beta of -0.14.

OmniAb (NASDAQ:OABI - Get Free Report) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.01. The firm had revenue of $10.80 million during the quarter, compared to analysts' expectations 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 period last year, the firm posted ($0.14) EPS. As a group, equities research analysts predict that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on OABI shares. HC Wainwright reissued a "buy" rating and issued a $11.00 target price on shares of OmniAb in a report on Wednesday, March 19th. Benchmark dropped their price objective on OmniAb from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Thursday.

Institutional Inflows and Outflows

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

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.