Insider Buying: OmniAb, Inc. (NASDAQ:OABI) Director Purchases $93,600.00 in Stock

OmniAb, Inc. (NASDAQ:OABI) Director John L. Higgins acquired 65,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $1.44 per share, with a total value of $93,600.00. Following the completion of the purchase, the director now owns 2,831,887 shares in the company, valued at $4,077,917.28. This represents a 2.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

OmniAb Price Performance

OABI stock opened at $1.55 on Friday. The business has a 50 day simple moving average of $2.09 and a 200-day simple moving average of $3.14. The firm has a market capitalization of $189.31 million, a PE ratio of -2.50 and a beta of 0.10. OmniAb, Inc. has a 1 year low of $1.35 and a 1 year high of $4.96.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). The company had revenue of $4.15 million during the quarter, compared to analyst estimates of $4.49 million. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. On average, equities research analysts expect that OmniAb, Inc. will post -0.61 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on OABI. Benchmark restated a “buy” rating and issued a $6.00 price target on shares of OmniAb in a research report on Monday. Royal Bank of Canada dropped their price target on OmniAb from $7.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, March 27th. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of OmniAb in a research report on Wednesday, March 19th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OABI. Barclays PLC grew its position in OmniAb by 321.5% in the third quarter. Barclays PLC now owns 143,215 shares of the company’s stock worth $606,000 after acquiring an additional 109,236 shares during the period. Woodstock Corp grew its position in OmniAb by 1.2% in the fourth quarter. Woodstock Corp now owns 802,578 shares of the company’s stock worth $2,841,000 after acquiring an additional 9,725 shares during the period. SG Americas Securities LLC grew its position in OmniAb by 16.5% in the fourth quarter. SG Americas Securities LLC now owns 40,609 shares of the company’s stock worth $144,000 after acquiring an additional 5,751 shares during the period. Choreo LLC purchased a new position in OmniAb in the fourth quarter worth approximately $41,000. Finally, Charles Schwab Investment Management Inc. grew its position in OmniAb by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 819,708 shares of the company’s stock worth $2,902,000 after acquiring an additional 32,186 shares during the period. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

About OmniAb

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.