Insider Selling: OmniAb, Inc. (NASDAQ:OABI) Director Sells 9,000 Shares of Stock

OmniAb, Inc. (NASDAQ:OABI – Get Rating) Director John L. Higgins sold 9,000 shares of OmniAb stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $4.05, for a total value of $36,450.00. Following the transaction, the director now owns 2,462,686 shares of the company’s stock, valued at $9,973,878.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

OmniAb Stock Performance

Shares of NASDAQ OABI opened at $4.17 on Friday. The company has a 50 day simple moving average of $3.62 and a 200 day simple moving average of $3.60. OmniAb, Inc. has a 1 year low of $1.91 and a 1 year high of $10.50.

OmniAb (NASDAQ:OABI – Get Rating) last announced its quarterly earnings results on Thursday, March 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The business had revenue of $35.35 million during the quarter, compared to analyst estimates of $24.73 million. As a group, research analysts expect that OmniAb, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Stephens Inc. AR acquired a new stake in shares of OmniAb in the first quarter valued at about $32,000. Stifel Financial Corp bought a new stake in shares of OmniAb in the 1st quarter valued at $37,000. Two Sigma Advisers LP bought a new stake in OmniAb during the first quarter valued at $47,000. HighTower Advisors LLC acquired a new stake in OmniAb during the 1st quarter worth about $48,000. Finally, Two Sigma Investments LP bought a new position in shares of OmniAb in the 1st quarter worth about $50,000. 42.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OABI has been the subject of several research analyst reports. Cowen began coverage on shares of OmniAb in a report on Wednesday, February 22nd. They set an “outperform” rating and a $10.00 target price for the company. Cowen began coverage on OmniAb in a research report on Wednesday, February 22nd. They set an “outperform” rating and a $10.00 price objective for the company. Benchmark started coverage on OmniAb in a research report on Thursday, April 20th. They issued a “buy” rating and a $8.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of OmniAb in a research note on Friday, March 31st. Finally, Craig Hallum started coverage on shares of OmniAb in a research note on Thursday, April 13th. They issued a “buy” rating and a $10.00 price target on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, OmniAb currently has an average rating of “Buy” and a consensus target price of $10.00.

OmniAb Company Profile

(Get Rating)

OmniAb, Inc, a biotechnology company, provides therapeutic antibody discovery technologies in the United States. The company's discovery platform provides industry partners access to the diverse antibody repertoires and screening technologies to enable discovery of next-generation therapeutics. Its OmniAb platform is the biological intelligence of proprietary transgenic animals, including OmniRat, OmniChicken, and OmniMouse that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates.