OmniAb (NASDAQ:OABI) CFO Kurt Gustafson Sells 9,301 Shares of Stock

OmniAb, Inc. (NASDAQ:OABI) CFO Kurt Gustafson sold 9,301 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $1.71, for a total value of $15,904.71. Following the transaction, the chief financial officer owned 268,851 shares of the company’s stock, valued at $459,735.21. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

OmniAb Stock Performance

NASDAQ:OABI opened at $1.71 on Thursday. OmniAb, Inc. has a fifty-two week low of $1.22 and a fifty-two week high of $4.02. The company has a 50 day simple moving average of $1.89 and a two-hundred day simple moving average of $1.76. The company has a market capitalization of $246.17 million, a PE ratio of -2.95 and a beta of 0.13.

Hedge Funds Weigh In On OmniAb

Several institutional investors have recently made changes to their positions in the stock. Cadian Capital Management LP boosted its position in shares of OmniAb by 20.7% during the 4th quarter. Cadian Capital Management LP now owns 4,434,954 shares of the company’s stock worth $8,205,000 after purchasing an additional 759,386 shares in the last quarter. Woodline Partners LP bought a new stake in OmniAb in the 3rd quarter valued at about $4,571,000. Geode Capital Management LLC raised its stake in OmniAb by 17.0% during the 4th quarter. Geode Capital Management LLC now owns 2,722,692 shares of the company’s stock worth $5,038,000 after buying an additional 396,456 shares during the period. Private Management Group Inc. boosted its holdings in OmniAb by 1.1% in the second quarter. Private Management Group Inc. now owns 2,558,045 shares of the company’s stock worth $4,451,000 after acquiring an additional 28,286 shares in the last quarter. Finally, Kent Lake PR LLC boosted its holdings in OmniAb by 677.8% in the second quarter. Kent Lake PR LLC now owns 1,750,000 shares of the company’s stock worth $3,045,000 after acquiring an additional 1,525,000 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of OmniAb in a report on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, OmniAb has an average rating of “Moderate Buy” and a consensus target price of $6.67.

OmniAb Company Profile

OmniAb, Inc (NASDAQ: OABI) operates as a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s integrated antibody discovery platform combines proprietary transgenic animal models, in vitro screening, and in silico engineering to accelerate lead identification and optimization. OmniAb offers both fee-for-service collaborations and license agreements, enabling biopharmaceutical partners to leverage its suite of technologies for programs spanning oncology, immunology, and other therapeutic areas.

Founded in 2016 and headquartered in Seattle, Washington, OmniAb went public in May 2021.