Insider Selling: OmniAb, Inc. (NASDAQ:OABI) Insider Sells 7,206 Shares of Stock

OmniAb, Inc. (NASDAQ:OABI) insider Charles S. Berkman sold 7,206 shares of OmniAb stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $2.00, for a total value of $14,412.00. Following the transaction, the insider now directly owns 363,212 shares in the company, valued at approximately $726,424. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

OmniAb Price Performance

Shares of OmniAb stock remained flat at $2.09 during trading on Monday. 979,679 shares of the stock traded hands, compared to its average volume of 553,387. OmniAb, Inc. has a 1-year low of $1.91 and a 1-year high of $5.45. The stock’s 50-day simple moving average is $3.14 and its 200 day simple moving average is $3.61. The stock has a market cap of $255.26 million, a P/E ratio of -3.37 and a beta of 0.06.

OmniAb (NASDAQ:OABI) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $10.80 million during the quarter, compared to analyst estimates of $10.13 million. During the same quarter last year, the business posted ($0.14) EPS. On average, sell-side analysts predict that OmniAb, Inc. will post -0.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC purchased a new stake in OmniAb in the 4th quarter worth about $38,000. Choreo LLC acquired a new position in shares of OmniAb in the 4th quarter valued at about $41,000. Rangeley Capital LLC acquired a new position in shares of OmniAb in the 4th quarter valued at about $41,000. KLP Kapitalforvaltning AS purchased a new stake in shares of OmniAb in the fourth quarter worth approximately $49,000. Finally, Walleye Capital LLC acquired a new stake in shares of OmniAb during the third quarter worth approximately $61,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

OABI has been the topic of several recent research reports. Benchmark dropped their target price on shares of OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Royal Bank of Canada cut their price objective on OmniAb from $7.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, March 27th. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of OmniAb in a report on Wednesday, March 19th.

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.