OmniAb, Inc. (NASDAQ:OABI) Director John L. Higgins Acquires 125,750 Shares

OmniAb, Inc. (NASDAQ:OABI) Director John L. Higgins acquired 125,750 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $2.35 per share, for a total transaction of $295,512.50. Following the completion of the transaction, the director now owns 2,762,887 shares in the company, valued at $6,492,784.45. The trade was a 4.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

OmniAb Price Performance

Shares of OmniAb stock opened at $2.27 on Friday. OmniAb, Inc. has a 52-week low of $2.23 and a 52-week high of $5.72. The company’s fifty day moving average price is $3.36 and its two-hundred day moving average price is $3.78. The firm has a market capitalization of $320.56 million, a PE ratio of -3.66 and a beta of -0.14.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. The business had revenue of $10.80 million for the quarter, compared to the consensus estimate of $10.13 million. During the same quarter in the prior year, the company earned ($0.14) EPS. Analysts predict that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

Institutional Trading of OmniAb

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC acquired a new position in OmniAb during the 4th quarter worth approximately $38,000. Choreo LLC acquired a new stake in OmniAb during the 4th quarter valued at $41,000. Rangeley Capital LLC bought a new position in OmniAb during the 4th quarter worth $41,000. KLP Kapitalforvaltning AS bought a new position in OmniAb during the 4th quarter worth $49,000. Finally, Walleye Capital LLC bought a new position in OmniAb during the 3rd quarter worth $61,000. 72.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OABI has been the topic of several recent research reports. Benchmark lowered their price objective on shares of OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of OmniAb in a report on Wednesday.

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.