OmniAb, Inc. (NASDAQ:OABI) CFO Kurt A. Gustafson Sells 11,849 Shares of Stock

OmniAb, Inc. (NASDAQ:OABIGet Free Report) CFO Kurt A. Gustafson sold 11,849 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $5.46, for a total value of $64,695.54. Following the sale, the chief financial officer now directly owns 170,110 shares of the company’s stock, valued at $928,800.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

OmniAb Trading Down 1.5 %

Shares of OmniAb stock opened at $5.28 on Wednesday. The firm has a market capitalization of $618.45 million, a P/E ratio of -10.35 and a beta of -0.18. The business’s fifty day simple moving average is $5.58 and its 200 day simple moving average is $5.33. OmniAb, Inc. has a 12 month low of $3.14 and a 12 month high of $6.72.

Institutional Investors Weigh In On OmniAb

A number of hedge funds have recently made changes to their positions in OABI. BlackRock Inc. purchased a new stake in OmniAb during the first quarter worth about $21,021,000. Macquarie Group Ltd. bought a new position in shares of OmniAb during the 1st quarter valued at approximately $13,908,000. Rubric Capital Management LP increased its stake in shares of OmniAb by 306.0% during the 3rd quarter. Rubric Capital Management LP now owns 2,850,588 shares of the company’s stock worth $14,795,000 after purchasing an additional 2,148,535 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of OmniAb in the 1st quarter worth approximately $7,120,000. Finally, Geode Capital Management LLC purchased a new position in OmniAb in the first quarter valued at approximately $6,482,000. 72.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OABI has been the topic of several analyst reports. Truist Financial reaffirmed a “buy” rating and set a $10.00 target price on shares of OmniAb in a research report on Tuesday, March 26th. Benchmark reaffirmed a “buy” rating and set a $8.00 price objective on shares of OmniAb in a report on Friday, March 22nd. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of OmniAb in a report on Thursday, March 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $7.00 price target on shares of OmniAb in a research report on Thursday, March 21st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, OmniAb has an average rating of “Buy” and an average target price of $9.20.

Read Our Latest Stock Analysis on OmniAb

OmniAb Company Profile

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OmniAb, Inc, a biotechnology company, engages in the provision of therapeutic antibody discovery technologies in the United States. The company's discovery platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts. Its OmniAb platform is the biological intelligence of proprietary transgenic animals, including OmniRat, OmniChicken, and OmniMouse that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates.

Further Reading

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