Key Points
- CFO Kurt Gustafson sold 23,922 shares on Dec. 8 at an average price of $1.96 for $46,887.12, cutting his holding by 8.65% to 252,688 shares (SEC filing disclosed).
- Weak fundamentals: OmniAb posted ($0.14) EPS that slightly beat estimates but revenue of $2.24M missed expectations, the company remains unprofitable with negative ROE/net margin, and analysts forecast -0.61 EPS for the year.
- Sentiment is mixed: the consensus rating is a "Moderate Buy" with a $6.67 target, while Weiss Ratings maintains a "sell (d-)", and institutional investors own about 72.08% of the stock with several funds recently increasing stakes.
OmniAb, Inc. (NASDAQ:OABI - Get Free Report) insider Charles Berkman sold 8,044 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $1.96, for a total transaction of $15,766.24. Following the sale, the insider owned 377,071 shares of the company's stock, valued at $739,059.16. This trade represents a 2.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
OmniAb Price Performance
NASDAQ:OABI opened at $1.99 on Wednesday. The firm has a market cap of $286.48 million, a PE ratio of -3.43 and a beta of 0.13. OmniAb, Inc. has a 12 month low of $1.22 and a 12 month high of $4.14. The company's 50-day moving average price is $1.66 and its two-hundred day moving average price is $1.72.
OmniAb (NASDAQ:OABI - Get Free Report) last posted its earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.01. The company had revenue of $2.24 million during the quarter, compared to analysts' expectations of $5.64 million. OmniAb had a negative net margin of 301.83% and a negative return on equity of 23.14%. On average, research analysts expect that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Woodline Partners LP acquired a new stake in shares of OmniAb in the 3rd quarter valued at $4,571,000. Private Management Group Inc. boosted its holdings in OmniAb by 1.1% in the second quarter. Private Management Group Inc. now owns 2,558,045 shares of the company's stock valued at $4,451,000 after acquiring an additional 28,286 shares during the last quarter. Kent Lake PR LLC increased its position in OmniAb by 677.8% in the second quarter. Kent Lake PR LLC now owns 1,750,000 shares of the company's stock worth $3,045,000 after purchasing an additional 1,525,000 shares during the period. ADAR1 Capital Management LLC raised its holdings in OmniAb by 234.4% during the 3rd quarter. ADAR1 Capital Management LLC now owns 1,090,628 shares of the company's stock worth $1,745,000 after purchasing an additional 764,520 shares during the last quarter. Finally, Murchinson Ltd. raised its holdings in OmniAb by 0.8% during the 1st quarter. Murchinson Ltd. now owns 1,007,810 shares of the company's stock worth $2,419,000 after purchasing an additional 7,810 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a "sell (d-)" rating on shares of OmniAb in a report on Monday. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $6.67.
Get Our Latest Analysis on OmniAb
OmniAb Company Profile
(
Get Free Report)
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.
Further Reading
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