OmniAb (NASDAQ:OABI) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

OmniAb (NASDAQ:OABI) posted its earnings results on Tuesday. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01, Zacks reports. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%.

OmniAb Price Performance

Shares of NASDAQ:OABI traded up $0.02 during midday trading on Tuesday, hitting $3.19. 514,113 shares of the company’s stock were exchanged, compared to its average volume of 523,043. OmniAb has a 12 month low of $3.05 and a 12 month high of $5.72. The company has a market cap of $450.48 million, a PE ratio of -5.15 and a beta of -0.14. The stock has a 50 day moving average price of $3.42 and a 200-day moving average price of $3.81.

Insider Buying and Selling

In related news, CEO Matthew W. Foehr sold 41,811 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $3.24, for a total transaction of $135,467.64. Following the transaction, the chief executive officer now directly owns 3,749,639 shares in the company, valued at approximately $12,148,830.36. The trade was a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kurt A. Gustafson sold 7,255 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $3.67, for a total transaction of $26,625.85. Following the transaction, the chief financial officer now owns 206,211 shares in the company, valued at approximately $756,794.37. This trade represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,260 shares of company stock worth $376,601. 8.60% of the stock is owned by insiders.

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.