OmniAb (NASDAQ:OABI) CFO Sells $46,887.12 in Stock

OmniAb, Inc. (NASDAQ:OABI) CFO Kurt Gustafson sold 23,922 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $1.96, for a total value of $46,887.12. Following the transaction, the chief financial officer directly owned 252,688 shares in the company, valued at $495,268.48. This trade represents a 8.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

OmniAb Trading Up 2.1%

NASDAQ OABI opened at $1.99 on Tuesday. OmniAb, Inc. has a 12 month low of $1.22 and a 12 month high of $4.17. The stock has a 50 day moving average of $1.65 and a 200-day moving average of $1.71. The company has a market cap of $286.48 million, a PE ratio of -3.43 and a beta of 0.13.

OmniAb (NASDAQ:OABI) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. OmniAb had a negative net margin of 301.83% and a negative return on equity of 23.14%. The firm had revenue of $2.24 million for the quarter, compared to analyst estimates of $5.64 million. As a group, sell-side analysts predict that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

Institutional Trading of OmniAb

Several hedge funds and other institutional investors have recently modified their holdings of OABI. The Manufacturers Life Insurance Company grew its stake in OmniAb by 20.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,809 shares of the company’s stock valued at $78,000 after buying an additional 7,624 shares during the last quarter. Murchinson Ltd. boosted its holdings in shares of OmniAb by 0.8% during the first quarter. Murchinson Ltd. now owns 1,007,810 shares of the company’s stock worth $2,419,000 after acquiring an additional 7,810 shares during the period. Rhumbline Advisers grew its position in shares of OmniAb by 6.0% in the second quarter. Rhumbline Advisers now owns 160,728 shares of the company’s stock valued at $280,000 after purchasing an additional 9,163 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of OmniAb by 214.4% during the second quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock worth $25,000 after purchasing an additional 9,716 shares during the period. Finally, AQR Capital Management LLC bought a new stake in OmniAb in the 1st quarter valued at $25,000. Institutional investors own 72.08% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of OmniAb in a report on Monday, December 1st. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

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.