OmniAb, Inc. (NASDAQ:OABI) Director John L. Higgins Buys 65,000 Shares of Stock

OmniAb, Inc. (NASDAQ:OABI) Director John L. Higgins bought 65,000 shares of OmniAb stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $1.44 per share, for a total transaction of $93,600.00. Following the completion of the transaction, the director now directly owns 2,831,887 shares in the company, valued at $4,077,917.28. This represents a 2.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

OmniAb Stock Performance

OmniAb stock opened at $1.40 on Wednesday. OmniAb, Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $4.96. The company has a market cap of $170.99 million, a PE ratio of -2.26 and a beta of 0.10. The business’s 50-day simple moving average is $2.17 and its two-hundred day simple moving average is $3.17.

OmniAb (NASDAQ:OABI) last issued its earnings results on Thursday, May 8th. The company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. The firm had revenue of $4.15 million for the quarter, compared to the consensus estimate of $4.49 million. As a group, analysts predict that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OABI has been the topic of several recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $6.00 target price on shares of OmniAb in a research report on Monday. HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of OmniAb in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada dropped their price target on OmniAb from $7.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday, March 27th.

Hedge Funds Weigh In On OmniAb

A number of hedge funds have recently bought and sold shares of OABI. Cerity Partners LLC purchased a new position in OmniAb during the first quarter worth approximately $26,000. Hsbc Holdings PLC purchased a new position in OmniAb during the fourth quarter worth approximately $38,000. PNC Financial Services Group Inc. boosted its position in OmniAb by 279.4% during the first quarter. PNC Financial Services Group Inc. now owns 16,276 shares of the company’s stock worth $39,000 after purchasing an additional 11,986 shares in the last quarter. Choreo LLC purchased a new position in OmniAb during the fourth quarter worth approximately $41,000. Finally, Rangeley Capital LLC purchased a new position in OmniAb during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

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.