Key Points
- CFO Kurt Gustafson sold 6,913 shares on April 7 at an average price of $1.49 to cover tax withholding from vesting, trimming his stake by 2.58% to 261,483 shares (≈$389,610).
- OmniAb missed the quarter with EPS of ($0.11) vs. a ($0.08) consensus and revenue of $8.38M vs. $9.00M, leaving the company with negative margins and a market cap of about $218.6M while the stock trades near $1.51.
- Analyst and ownership backdrop is mixed: the consensus rating is Hold with an average target of $4.50, and institutional investors own roughly 72% of the shares.
OmniAb, Inc. (NASDAQ:OABI - Get Free Report) CFO Kurt Gustafson sold 6,913 shares of the business's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $1.49, for a total transaction of $10,300.37. Following the sale, the chief financial officer directly owned 261,483 shares of the company's stock, valued at approximately $389,609.67. The trade was a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
OmniAb Price Performance
NASDAQ:OABI opened at $1.51 on Wednesday. The firm has a 50-day moving average of $1.74 and a 200-day moving average of $1.76. The company has a market cap of $218.62 million, a PE ratio of -2.65 and a beta of 0.17. OmniAb, Inc. has a one year low of $1.22 and a one year high of $2.30.
OmniAb (NASDAQ:OABI - Get Free Report) last posted 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). The business had revenue of $8.38 million for the quarter, compared to the consensus estimate of $9.00 million. OmniAb had a negative return on equity of 23.99% and a negative net margin of 347.04%. On average, equities research analysts expect that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.
Institutional Investors Weigh In On OmniAb
A number of institutional investors have recently added to or reduced their stakes in OABI. AQR Capital Management LLC bought a new stake in OmniAb in the 1st quarter worth about $25,000. Osaic Holdings Inc. grew its position in OmniAb by 214.4% in the 2nd quarter. Osaic Holdings Inc. now owns 14,247 shares of the company's stock worth $25,000 after purchasing an additional 9,716 shares in the last quarter. BNP Paribas Financial Markets grew its position in OmniAb by 92.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company's stock worth $35,000 after purchasing an additional 10,438 shares in the last quarter. Cerity Partners LLC grew its position in OmniAb by 111.5% in the 2nd quarter. Cerity Partners LLC now owns 22,612 shares of the company's stock worth $39,000 after purchasing an additional 11,919 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in OmniAb by 96.6% in the 4th quarter. SG Americas Securities LLC now owns 23,141 shares of the company's stock worth $43,000 after purchasing an additional 11,369 shares in the last quarter. 72.08% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on OABI shares. Benchmark reiterated a "buy" rating on shares of OmniAb in a report on Friday, March 6th. Weiss Ratings reiterated a "sell (e+)" rating on shares of OmniAb in a report on Monday, December 22nd. Finally, Wall Street Zen upgraded OmniAb from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $4.50.
View Our Latest Stock Report on OmniAb
About OmniAb
(
Get Free Report)
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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