OmniAb (NASDAQ:OABI) Director John Higgins Buys 41,038 Shares

OmniAb, Inc. (NASDAQ:OABI) Director John Higgins bought 41,038 shares of the stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost of $1.38 per share, for a total transaction of $56,632.44. Following the acquisition, the director owned 2,929,148 shares of the company’s stock, valued at approximately $4,042,224.24. This represents a 1.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

OmniAb Stock Up 8.0%

Shares of NASDAQ:OABI opened at $1.49 on Tuesday. OmniAb, Inc. has a 52 week low of $1.22 and a 52 week high of $4.61. The company has a 50-day moving average price of $1.60 and a 200 day moving average price of $1.69. The company has a market cap of $214.50 million, a P/E ratio of -2.57 and a beta of 0.15.

OmniAb (NASDAQ:OABI) last released its earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. The company had revenue of $2.24 million for the quarter, compared to analysts’ expectations of $5.64 million. OmniAb had a negative return on equity of 23.14% and a negative net margin of 301.83%. OmniAb has set its FY 2025 guidance at EPS. Analysts expect that OmniAb, Inc. will post -0.61 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of OmniAb in a report on Tuesday, October 14th. Royal Bank Of Canada reduced their price objective on shares of OmniAb from $4.00 to $3.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.67.

Institutional Investors Weigh In On OmniAb

Hedge funds and other institutional investors have recently modified their holdings of the company. Private Management Group Inc. lifted its stake in shares of OmniAb by 1.1% during the second quarter. Private Management Group Inc. now owns 2,558,045 shares of the company’s stock valued at $4,451,000 after buying an additional 28,286 shares during the period. Kent Lake PR LLC raised its holdings in OmniAb by 677.8% in the 2nd quarter. Kent Lake PR LLC now owns 1,750,000 shares of the company’s stock valued at $3,045,000 after acquiring an additional 1,525,000 shares during the last quarter. Murchinson Ltd. lifted its stake in shares of 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 period. Towerview LLC boosted its holdings in shares of OmniAb by 43.3% during the second quarter. Towerview LLC now owns 831,100 shares of the company’s stock worth $1,446,000 after purchasing an additional 251,100 shares during the last quarter. Finally, Royce & Associates LP grew its position in shares of OmniAb by 15.6% in the first quarter. Royce & Associates LP now owns 817,080 shares of the company’s stock valued at $1,961,000 after purchasing an additional 110,000 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.