OmniAb (NASDAQ:OABI) Insider Sells $10,663.93 in Stock

Key Points

• Insider sale: Charles Berkman sold 7,157 shares at $1.49 for $10,663.93 to cover tax withholding on vested awards, trimming his stake by 1.76% to 399,085 shares (worth about $594,637).
• Earnings miss: OmniAb reported Q results of ($0.11) EPS vs. a ($0.08) consensus and revenue of $8.38M vs. $9.00M expected, showing negative ROE and net margin, and analysts forecast ~-0.61 EPS for the year.
• Shares traded down ~1.9% to $1.51 (12‑month range $1.22–$2.30) with a market cap of roughly $218.6M; the consensus from three analysts is an average rating of "Hold" with a $4.50 target (two Buys, one Sell).

OmniAb, Inc. (NASDAQ:OABI - Get Free Report) insider Charles Berkman sold 7,157 shares of the business's stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $1.49, for a total value of $10,663.93. Following the completion of the sale, the insider directly owned 399,085 shares in the company, valued at $594,636.65. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

OmniAb Trading Down 1.9%

OmniAb stock traded down $0.03 during mid-day trading on Tuesday, hitting $1.51. The company had a trading volume of 372,768 shares, compared to its average volume of 305,484. The stock's 50 day moving average price is $1.74 and its two-hundred day moving average price is $1.76. OmniAb, Inc. has a 12 month low of $1.22 and a 12 month high of $2.30. The company has a market capitalization of $218.62 million, a PE ratio of -2.65 and a beta of 0.17.

OmniAb (NASDAQ:OABI - Get Free Report) last released its earnings results on Wednesday, March 4th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). OmniAb had a negative return on equity of 23.99% and a negative net margin of 347.04%.The company had revenue of $8.38 million during the quarter, compared to the consensus estimate of $9.00 million. Equities research analysts anticipate that OmniAb, Inc. will post -0.61 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on OABI. Benchmark reissued a "buy" rating on shares of OmniAb in a report on Friday, March 6th. Weiss Ratings reissued a "sell (e+)" rating on shares of OmniAb in a report on Monday, December 22nd. Finally, Wall Street Zen raised OmniAb from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, OmniAb presently has an average rating of "Hold" and an average target price of $4.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OABI. AQR Capital Management LLC bought a new position in shares of OmniAb during the first quarter valued at $25,000. Jane Street Group LLC lifted its holdings in shares of OmniAb by 26.3% during the first quarter. Jane Street Group LLC now owns 80,778 shares of the company's stock valued at $194,000 after purchasing an additional 16,823 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of OmniAb by 28.3% during the second quarter. JPMorgan Chase & Co. now owns 793,734 shares of the company's stock valued at $1,381,000 after purchasing an additional 175,297 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of OmniAb by 6.0% during the second quarter. Rhumbline Advisers now owns 160,728 shares of the company's stock valued at $280,000 after purchasing an additional 9,163 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in shares of OmniAb by 156.5% during the second quarter. XTX Topco Ltd now owns 137,171 shares of the company's stock valued at $239,000 after purchasing an additional 83,687 shares in the last quarter. 72.08% of the stock is owned by 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.

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