OmniAb (NASDAQ:OABI) Insider Charles Berkman Sells 8,044 Shares

OmniAb, Inc. (NASDAQ:OABI) insider Charles Berkman sold 8,044 shares of OmniAb stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $1.96, for a total value of $15,766.24. Following the sale, the insider directly owned 377,071 shares of the company’s stock, valued at approximately $739,059.16. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

OmniAb Price Performance

Shares of NASDAQ OABI opened at $1.99 on Tuesday. The firm has a market cap of $286.48 million, a price-to-earnings ratio of -3.43 and a beta of 0.13. The stock’s fifty day moving average price is $1.65 and its two-hundred day moving average price is $1.71. OmniAb, Inc. has a one year low of $1.22 and a one year high of $4.17.

OmniAb (NASDAQ:OABI) last posted its earnings results on Tuesday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. OmniAb had a negative return on equity of 23.14% and a negative net margin of 301.83%.The company had revenue of $2.24 million during the quarter, compared to the consensus estimate of $5.64 million. On average, equities analysts anticipate that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OmniAb

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in shares of OmniAb by 20.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,809 shares of the company’s stock valued at $78,000 after buying an additional 7,624 shares in the last quarter. Murchinson Ltd. boosted its position 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 acquiring an additional 7,810 shares in the last quarter. Rhumbline Advisers increased its stake in OmniAb by 6.0% in the second quarter. Rhumbline Advisers now owns 160,728 shares of the company’s stock valued at $280,000 after acquiring an additional 9,163 shares during the last quarter. Osaic Holdings Inc. raised its position in OmniAb by 214.4% during the second quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock valued at $25,000 after purchasing an additional 9,716 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in OmniAb during the first quarter valued at approximately $25,000. 72.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of OmniAb in a report on Monday, December 1st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.67.

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.