OmniAb, Inc. (NASDAQ:OABI) CFO Sells $36,647.58 in Stock

OmniAb, Inc. (NASDAQ:OABI - Get Free Report) CFO Kurt A. Gustafson sold 6,954 shares of the company's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $5.27, for a total value of $36,647.58. Following the completion of the sale, the chief financial officer now directly owns 176,697 shares of the company's stock, valued at approximately $931,193.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

OmniAb Price Performance

OABI traded up $0.12 on Tuesday, reaching $5.43. The company's stock had a trading volume of 476,819 shares, compared to its average volume of 450,518. The stock has a market cap of $635.99 million, a price-to-earnings ratio of -10.65 and a beta of -0.18. OmniAb, Inc. has a 1 year low of $3.14 and a 1 year high of $6.72. The business's 50 day moving average is $5.50 and its 200 day moving average is $5.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Woodstock Corp boosted its holdings in OmniAb by 0.7% in the first quarter. Woodstock Corp now owns 748,428 shares of the company's stock valued at $4,056,000 after purchasing an additional 5,426 shares during the last quarter. Vanguard Group Inc. boosted its holdings in OmniAb by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 5,651,408 shares of the company's stock valued at $34,869,000 after purchasing an additional 155,464 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in OmniAb by 10.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 189,437 shares of the company's stock valued at $1,169,000 after purchasing an additional 18,542 shares during the last quarter. Virtu Financial LLC bought a new position in OmniAb during the 4th quarter worth approximately $100,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in OmniAb by 10.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,735 shares of the company's stock worth $148,000 after buying an additional 2,238 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OABI. Benchmark reaffirmed a "buy" rating and issued a $8.00 target price on shares of OmniAb in a research report on Friday, March 22nd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $7.00 target price on shares of OmniAb in a research report on Thursday, March 21st. HC Wainwright reaffirmed a "buy" rating and issued a $11.00 target price on shares of OmniAb in a research report on Thursday, March 21st. Finally, Truist Financial reaffirmed a "buy" rating and issued a $10.00 target price on shares of OmniAb in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $9.20.

OmniAb Company Profile

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.

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