OmniAb, Inc. (NASDAQ:OABI) Director Acquires $295,512.50 in Stock

OmniAb, Inc. (NASDAQ:OABI) Director John L. Higgins bought 125,750 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now owns 2,762,887 shares of the company’s stock, valued at approximately $6,492,784.45. This trade represents a 4.77 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

OmniAb Price Performance

OABI stock opened at $2.53 on Friday. The stock has a market capitalization of $357.28 million, a P/E ratio of -4.08 and a beta of -0.14. The business has a 50-day moving average of $3.34 and a 200-day moving average of $3.77. OmniAb, Inc. has a fifty-two week low of $2.23 and a fifty-two week high of $5.63.

OmniAb (NASDAQ:OABI) last posted 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 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 in the prior year, the firm earned ($0.14) earnings per share. Equities analysts expect that OmniAb, Inc. will post -0.61 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC bought a new stake in OmniAb during the fourth quarter worth about $38,000. Choreo LLC bought a new stake in OmniAb during the fourth quarter worth about $41,000. Rangeley Capital LLC bought a new stake in OmniAb during the fourth quarter worth about $41,000. KLP Kapitalforvaltning AS bought a new stake in OmniAb during the fourth quarter worth about $49,000. Finally, Walleye Capital LLC bought a new stake in OmniAb during the third quarter worth about $61,000. 72.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OABI. Benchmark decreased 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. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of OmniAb in a research note on Wednesday.

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.