OmniAb (NASDAQ:OABI) Releases Earnings Results, Misses Estimates By $0.02 EPS

OmniAb (NASDAQ:OABI - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02), Zacks reports. OmniAb had a negative return on equity of 15.41% and a negative net margin of 148.16%. The business had revenue of $3.80 million for the quarter, compared to the consensus estimate of $6.00 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share.

OmniAb Stock Performance

Shares of OmniAb stock traded up $0.11 on Friday, reaching $4.68. 1,152,491 shares of the company's stock were exchanged, compared to its average volume of 479,499. The firm's 50-day moving average is $5.09 and its two-hundred day moving average is $5.28. The company has a market capitalization of $548.15 million, a P/E ratio of -8.96 and a beta of -0.08. OmniAb has a 52 week low of $3.14 and a 52 week high of $6.72.

Insider Activity at OmniAb

In other OmniAb news, CFO Kurt A. Gustafson sold 11,849 shares of OmniAb stock in a transaction on Monday, April 1st. The shares were sold at an average price of $5.46, for a total value of $64,695.54. Following the completion of the sale, the chief financial officer now directly owns 170,110 shares of the company's stock, valued at $928,800.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Kurt A. Gustafson sold 11,849 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 170,110 shares in the company, valued at approximately $928,800.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew W. Foehr purchased 225,000 shares of the firm's stock in a transaction on Friday, March 22nd. The shares were acquired at an average price of $5.19 per share, with a total value of $1,167,750.00. Following the purchase, the chief executive officer now directly owns 2,908,803 shares in the company, valued at approximately $15,096,687.57. The disclosure for this purchase can be found here. 7.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OABI. Benchmark reissued a "buy" rating and issued a $8.00 target price on shares of OmniAb in a report on Friday, March 22nd. Royal Bank of Canada restated an "outperform" rating and set a $7.00 price objective on shares of OmniAb in a research report on Thursday, March 21st. 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, Truist Financial restated a "buy" rating and issued a $10.00 price target on shares of OmniAb in a research report on Tuesday, March 26th.

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.

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