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 firm’s stock in a transaction dated 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 acquisition, the director now directly owns 2,762,887 shares in the company, valued at $6,492,784.45. This represents a 4.77 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

OmniAb Price Performance

Shares of OABI stock opened at $2.53 on Friday. The stock’s fifty day simple moving average is $3.34 and its 200 day simple moving average is $3.77. The firm has a market cap of $357.28 million, a price-to-earnings ratio of -4.08 and a beta of -0.14. OmniAb, Inc. has a one year low of $2.23 and a one year high of $5.63.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $10.13 million. During the same quarter in the previous year, the company posted ($0.14) EPS. On average, research analysts anticipate that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On OmniAb

Institutional investors have recently bought and sold shares of the business. Atria Investments Inc acquired a new stake in shares of OmniAb during the third quarter worth $148,000. Intech Investment Management LLC acquired a new stake in shares of OmniAb during the third quarter worth $70,000. Charles Schwab Investment Management Inc. grew its stake in shares of OmniAb by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 787,522 shares of the company’s stock worth $3,331,000 after purchasing an additional 16,219 shares during the period. FMR LLC grew its stake in shares of OmniAb by 10.6% during the third quarter. FMR LLC now owns 138,813 shares of the company’s stock worth $587,000 after purchasing an additional 13,324 shares during the period. Finally, BBR Partners LLC grew its stake in shares of OmniAb by 250.0% during the third quarter. BBR Partners LLC now owns 70,000 shares of the company’s stock worth $296,000 after purchasing an additional 50,000 shares during the period. Institutional investors own 72.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Benchmark decreased their price objective on OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of OmniAb in a research note 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.