OmniAb (NASDAQ:OABI) Insider Sells $15,766.24 in Stock

OmniAb, Inc. (NASDAQ:OABI) insider Charles Berkman sold 8,044 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $1.96, for a total transaction of $15,766.24. Following the completion of the transaction, the insider directly owned 377,071 shares of the company’s stock, valued at $739,059.16. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

OmniAb Trading Up 2.1%

Shares of OmniAb stock opened at $1.99 on Tuesday. The firm’s 50 day moving average is $1.65 and its 200 day moving average is $1.71. The firm has a market capitalization of $286.48 million, a PE ratio of -3.43 and a beta of 0.13. OmniAb, Inc. has a 1 year low of $1.22 and a 1 year high of $4.17.

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

Institutional Investors Weigh In On OmniAb

Institutional investors and hedge funds have recently made changes to their positions in the stock. Woodline Partners LP acquired a new position in shares of OmniAb in the third quarter worth approximately $4,571,000. Private Management Group Inc. raised its holdings in OmniAb by 1.1% during the 2nd quarter. Private Management Group Inc. now owns 2,558,045 shares of the company’s stock worth $4,451,000 after purchasing an additional 28,286 shares during the last quarter. Kent Lake PR LLC lifted its position in shares of OmniAb by 677.8% in the 2nd quarter. Kent Lake PR LLC now owns 1,750,000 shares of the company’s stock worth $3,045,000 after purchasing an additional 1,525,000 shares during the period. ADAR1 Capital Management LLC boosted its stake in shares of OmniAb by 234.4% in the 3rd quarter. ADAR1 Capital Management LLC now owns 1,090,628 shares of the company’s stock valued at $1,745,000 after purchasing an additional 764,520 shares during the last quarter. Finally, Murchinson Ltd. boosted its stake in shares of OmniAb by 0.8% in the 1st quarter. Murchinson Ltd. now owns 1,007,810 shares of the company’s stock valued at $2,419,000 after purchasing an additional 7,810 shares during the last quarter. Institutional investors and hedge funds 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 research report on Monday, December 1st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently 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.