OmniAb (NASDAQ:OABI) Announces Earnings Results

OmniAb (NASDAQ:OABI) issued its quarterly earnings results on Tuesday. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01, Zacks reports. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. The business had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $10.13 million. During the same quarter in the prior year, the business posted ($0.14) earnings per share.

OmniAb Trading Up 0.6 %

NASDAQ:OABI opened at $3.19 on Wednesday. OmniAb has a 12-month low of $3.05 and a 12-month high of $5.72. The stock has a 50-day moving average price of $3.41 and a 200 day moving average price of $3.80. The stock has a market capitalization of $450.48 million, a P/E ratio of -5.15 and a beta of -0.14.

Insider Buying and Selling

In related news, CFO Kurt A. Gustafson sold 15,526 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total transaction of $50,304.24. Following the completion of the transaction, the chief financial officer now directly owns 212,720 shares of the company’s stock, valued at approximately $689,212.80. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles S. Berkman sold 8,215 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $3.68, for a total value of $30,231.20. Following the completion of the sale, the insider now directly owns 364,131 shares of the company’s stock, valued at $1,340,002.08. The trade was a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,260 shares of company stock worth $376,601. 8.60% of the stock is owned by corporate insiders.

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.