Matthew Foehr Sells 19,244 Shares of OmniAb (NASDAQ:OABI) Stock

OmniAb, Inc. (NASDAQ:OABI) CEO Matthew Foehr sold 19,244 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $1.49, for a total value of $28,673.56. Following the completion of the transaction, the chief executive officer owned 4,420,492 shares of the company’s stock, valued at $6,586,533.08. This trade represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

OmniAb Stock Performance

Shares of OABI opened at $1.52 on Thursday. The stock has a fifty day moving average of $1.73 and a two-hundred day moving average of $1.76. The company has a market capitalization of $220.07 million, a PE ratio of -2.67 and a beta of 0.17. OmniAb, Inc. has a fifty-two week low of $1.22 and a fifty-two week high of $2.30.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings results on Wednesday, March 4th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). OmniAb had a negative net margin of 347.04% and a negative return on equity of 23.99%. The business had revenue of $8.38 million during the quarter, compared to analyst estimates of $9.00 million. As a group, equities research analysts forecast that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of OmniAb in a research note on Monday, December 22nd. Benchmark reissued a “buy” rating on shares of OmniAb in a research note on Friday, March 6th. Finally, Wall Street Zen raised shares of OmniAb from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.50.

Institutional Trading of OmniAb

Several institutional investors have recently made changes to their positions in OABI. AQR Capital Management LLC acquired a new position in OmniAb in the 1st quarter worth $25,000. Osaic Holdings Inc. raised its stake in shares of OmniAb by 214.4% in the 2nd quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock valued at $25,000 after purchasing an additional 9,716 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of OmniAb by 92.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company’s stock valued at $35,000 after purchasing an additional 10,438 shares in the last quarter. Cerity Partners LLC raised its stake in shares of OmniAb by 111.5% in the 2nd quarter. Cerity Partners LLC now owns 22,612 shares of the company’s stock valued at $39,000 after purchasing an additional 11,919 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of OmniAb by 96.6% in the 4th quarter. SG Americas Securities LLC now owns 23,141 shares of the company’s stock valued at $43,000 after purchasing an additional 11,369 shares in the last quarter. 72.08% of the stock is owned by hedge funds and other institutional investors.

OmniAb Company Profile

OmniAb, Inc (NASDAQ: OABI) operates as a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s integrated antibody discovery platform combines proprietary transgenic animal models, in vitro screening, and in silico engineering to accelerate lead identification and optimization. OmniAb offers both fee-for-service collaborations and license agreements, enabling biopharmaceutical partners to leverage its suite of technologies for programs spanning oncology, immunology, and other therapeutic areas.

Founded in 2016 and headquartered in Seattle, Washington, OmniAb went public in May 2021.