OmniAb (NASDAQ:OABI) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

OmniAb (NASDAQ:OABI) posted its quarterly earnings data on Tuesday. The company reported ($0.12) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $10.80 million during the quarter, compared to the consensus estimate of $10.13 million. During the same period in the prior year, the company earned ($0.14) EPS.

OmniAb Stock Down 20.4 %

Shares of OABI opened at $2.54 on Thursday. OmniAb has a 52-week low of $2.50 and a 52-week high of $5.72. The company has a market capitalization of $358.69 million, a PE ratio of -4.10 and a beta of -0.14. The stock has a fifty day simple moving average of $3.39 and a two-hundred day simple moving average of $3.79.

Insiders Place Their Bets

In other news, insider Charles S. Berkman sold 25,489 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total transaction of $82,584.36. Following the completion of the transaction, the insider now directly owns 343,190 shares in the company, valued at approximately $1,111,935.60. This represents a 6.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew W. Foehr sold 41,811 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total value of $135,467.64. Following the transaction, the chief executive officer now owns 3,749,639 shares of the company’s stock, valued at approximately $12,148,830.36. This represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,260 shares of company stock valued at $376,601 in the last three months. 8.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a research note on Wednesday.

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.