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

OmniAb, Inc. (NASDAQ:OABI) CFO Kurt A. Gustafson sold 11,963 shares of the business’s 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 sale, the chief financial officer now owns 217,492 shares in the company, valued at $515,456.04. This represents a 5.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

OmniAb Stock Down 5.0 %

Shares of NASDAQ:OABI opened at $2.28 on Wednesday. The firm has a market cap of $278.47 million, a P/E ratio of -3.68 and a beta of -0.14. OmniAb, Inc. has a 12 month low of $2.23 and a 12 month high of $5.54. The company’s 50-day moving average price is $3.23 and its two-hundred day moving average price is $3.67.

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

Institutional Investors Weigh In On OmniAb

Institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC bought a new position in OmniAb in the fourth quarter valued at about $38,000. Choreo LLC bought a new position in shares of OmniAb in the 4th quarter valued at about $41,000. Rangeley Capital LLC acquired a new stake in shares of OmniAb during the 4th quarter worth approximately $41,000. KLP Kapitalforvaltning AS bought a new stake in shares of OmniAb during the fourth quarter worth approximately $49,000. Finally, Walleye Capital LLC acquired a new position in OmniAb in the third quarter valued at approximately $61,000. Institutional investors own 72.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.