Matthew W. Foehr Sells 19,382 Shares of OmniAb, Inc. (NASDAQ:OABI) Stock

OmniAb, Inc. (NASDAQ:OABI) CEO Matthew W. Foehr sold 19,382 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $2.00, for a total transaction of $38,764.00. Following the sale, the chief executive officer now owns 3,796,236 shares of the company’s stock, valued at approximately $7,592,472. This trade represents a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

OmniAb Stock Performance

OABI remained flat at $2.09 during trading on Monday. The company had a trading volume of 979,679 shares, compared to its average volume of 553,387. The stock has a market capitalization of $255.26 million, a PE ratio of -3.37 and a beta of 0.06. The firm’s 50 day moving average is $3.14 and its 200-day moving average is $3.61. OmniAb, Inc. has a 1-year low of $1.91 and a 1-year high of $5.45.

OmniAb (NASDAQ:OABI) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($0.12) earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $10.13 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. On average, analysts forecast that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OmniAb

A number of large investors have recently added to or reduced their stakes in OABI. Janus Henderson Group PLC grew its stake in OmniAb by 1.1% in the fourth quarter. Janus Henderson Group PLC now owns 7,960,321 shares of the company’s stock worth $28,179,000 after purchasing an additional 88,993 shares during the period. Dimensional Fund Advisors LP lifted its position in OmniAb by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,025,674 shares of the company’s stock valued at $10,711,000 after purchasing an additional 142,513 shares during the period. Geode Capital Management LLC boosted its stake in shares of OmniAb by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,353,442 shares of the company’s stock worth $8,333,000 after buying an additional 28,061 shares during the last quarter. State Street Corp increased its position in shares of OmniAb by 1.7% during the 3rd quarter. State Street Corp now owns 2,031,676 shares of the company’s stock valued at $8,594,000 after purchasing an additional 34,654 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in OmniAb by 582.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,001,797 shares of the company’s stock worth $3,546,000 after acquiring an additional 854,929 shares during the period. Institutional investors own 72.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on OABI. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of OmniAb in a report on Wednesday, March 19th. Benchmark reduced their target price on shares of OmniAb from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Finally, Royal Bank of Canada reduced their price target on OmniAb from $7.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, March 27th.

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.