OmniAb, Inc. (NASDAQ:OABI) CFO Kurt A. Gustafson Sells 11,963 Shares

OmniAb, Inc. (NASDAQ:OABI) CFO Kurt A. Gustafson sold 11,963 shares of OmniAb stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $2.37, for a total transaction of $28,352.31. Following the completion of the transaction, the chief financial officer now owns 217,492 shares in the company, valued at approximately $515,456.04. This represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

OmniAb Trading Up 1.3 %

Shares of OABI opened at $2.31 on Thursday. The stock’s 50 day moving average is $3.21 and its two-hundred day moving average is $3.66. OmniAb, Inc. has a twelve month low of $2.23 and a twelve month high of $5.54. The firm has a market capitalization of $282.13 million, a PE ratio of -3.73 and a beta of -0.14.

OmniAb (NASDAQ:OABI) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $10.13 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. On average, sell-side analysts predict that OmniAb, Inc. will post -0.61 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OABI. 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 report on Thursday, March 27th. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of OmniAb in a research note on Wednesday, March 19th. Finally, Benchmark decreased their price target on OmniAb from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 20th.

Hedge Funds Weigh In On OmniAb

A number of large investors have recently made changes to their positions in OABI. Squarepoint Ops LLC grew its position in OmniAb by 33.3% during the fourth quarter. Squarepoint Ops LLC now owns 39,264 shares of the company’s stock worth $139,000 after buying an additional 9,809 shares during the period. Sherbrooke Park Advisers LLC grew its holdings in shares of OmniAb by 53.5% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 17,226 shares of the company’s stock worth $61,000 after acquiring an additional 6,001 shares during the period. ProShare Advisors LLC increased its stake in OmniAb by 29.9% in the 4th quarter. ProShare Advisors LLC now owns 31,724 shares of the company’s stock valued at $112,000 after purchasing an additional 7,302 shares in the last quarter. Northeast Financial Consultants Inc acquired a new position in OmniAb during the fourth quarter worth $393,000. Finally, Millennium Management LLC boosted its position in OmniAb by 49.7% during the fourth quarter. Millennium Management LLC now owns 186,745 shares of the company’s stock worth $661,000 after purchasing an additional 61,993 shares in the last quarter. 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.