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

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

OmniAb Stock Performance

OmniAb stock opened at $2.27 on Friday. OmniAb, Inc. has a fifty-two week low of $2.23 and a fifty-two week high of $5.72. The company has a market capitalization of $320.56 million, a P/E ratio of -3.66 and a beta of -0.14. The stock has a 50-day simple moving average of $3.36 and a 200-day simple moving average of $3.78.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Benchmark lowered their price target on OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research report on Wednesday.

Institutional Investors Weigh In On OmniAb

A number of large investors have recently bought and sold shares of OABI. Murchinson Ltd. acquired a new position in OmniAb in the third quarter valued at $4,230,000. JPMorgan Chase & Co. lifted its stake in shares of OmniAb by 582.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,001,797 shares of the company’s stock worth $3,546,000 after purchasing an additional 854,929 shares in the last quarter. Royce & Associates LP grew its position in OmniAb by 438.6% in the fourth quarter. Royce & Associates LP now owns 707,080 shares of the company’s stock valued at $2,503,000 after acquiring an additional 575,796 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in OmniAb by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,025,674 shares of the company’s stock worth $10,711,000 after buying an additional 142,513 shares during the period. Finally, Northeast Financial Consultants Inc purchased a new stake in shares of OmniAb during the fourth quarter worth about $393,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

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.