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

OmniAb, Inc. (NASDAQ:OABI) Director John L. Higgins acquired 125,750 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $2.35 per share, for a total transaction of $295,512.50. Following the completion of the transaction, the director now owns 2,762,887 shares in the company, valued at approximately $6,492,784.45. This represents a 4.77 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

OmniAb Stock Down 10.6 %

OABI traded down $0.27 during mid-day trading on Thursday, reaching $2.27. 2,401,389 shares of the company traded hands, compared to its average volume of 533,831. The stock has a market capitalization of $320.56 million, a P/E ratio of -3.66 and a beta of -0.14. The company’s fifty day moving average price is $3.36 and its 200-day moving average price is $3.78. OmniAb, Inc. has a 52-week low of $2.24 and a 52-week high of $5.72.

OmniAb (NASDAQ:OABI) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. The firm had revenue of $10.80 million during the quarter, compared to analyst estimates of $10.13 million. During the same period in the prior year, the business posted ($0.14) EPS. As a group, sell-side analysts forecast that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OABI. Barclays PLC raised its position in OmniAb by 321.5% in the 3rd quarter. Barclays PLC now owns 143,215 shares of the company’s stock worth $606,000 after purchasing an additional 109,236 shares during the period. FMR LLC boosted its stake in OmniAb by 10.6% in the third quarter. FMR LLC now owns 138,813 shares of the company’s stock valued at $587,000 after acquiring an additional 13,324 shares in the last quarter. Atria Investments Inc acquired a new stake in OmniAb in the third quarter valued at approximately $148,000. Murchinson Ltd. acquired a new stake in shares of OmniAb during the third quarter worth $4,230,000. Finally, State Street Corp lifted its stake in shares of OmniAb by 1.7% during the third quarter. State Street Corp now owns 2,031,676 shares of the company’s stock worth $8,594,000 after buying an additional 34,654 shares during the period. Institutional investors own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OABI. Benchmark cut their price objective on OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of OmniAb in a research report 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.