Insider Selling: OmniAb (NASDAQ:OABI) CEO Sells $35,281.80 in Stock

OmniAb, Inc. (NASDAQ:OABI) CEO Matthew Foehr sold 20,754 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $1.70, for a total transaction of $35,281.80. Following the sale, the chief executive officer directly owned 4,375,787 shares in the company, valued at $7,438,837.90. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

OmniAb Price Performance

NASDAQ OABI opened at $1.71 on Friday. The company has a market cap of $246.17 million, a price-to-earnings ratio of -2.95 and a beta of 0.13. The stock’s fifty day moving average price is $1.88 and its 200 day moving average price is $1.76. OmniAb, Inc. has a 1 year low of $1.22 and a 1 year high of $4.02.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of OmniAb in a report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, OmniAb currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.67.

Hedge Funds Weigh In On OmniAb

Institutional investors and hedge funds have recently modified their holdings of the stock. Woodline Partners LP purchased a new stake in shares of OmniAb in the third quarter worth about $4,571,000. Kent Lake PR LLC lifted its holdings in OmniAb by 677.8% in the second 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 period. ADAR1 Capital Management LLC boosted its position in OmniAb by 234.4% in the 3rd quarter. ADAR1 Capital Management LLC now owns 1,090,628 shares of the company’s stock worth $1,745,000 after purchasing an additional 764,520 shares in the last quarter. Cadian Capital Management LP boosted its position in OmniAb by 20.7% in the 4th quarter. Cadian Capital Management LP now owns 4,434,954 shares of the company’s stock worth $8,205,000 after purchasing an additional 759,386 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of OmniAb by 17.0% during the 4th quarter. Geode Capital Management LLC now owns 2,722,692 shares of the company’s stock worth $5,038,000 after purchasing an additional 396,456 shares during the period. Institutional investors and hedge funds own 72.08% of the company’s stock.

OmniAb Company Profile

OmniAb, Inc (NASDAQ: OABI) operates as a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s integrated antibody discovery platform combines proprietary transgenic animal models, in vitro screening, and in silico engineering to accelerate lead identification and optimization. OmniAb offers both fee-for-service collaborations and license agreements, enabling biopharmaceutical partners to leverage its suite of technologies for programs spanning oncology, immunology, and other therapeutic areas.

Founded in 2016 and headquartered in Seattle, Washington, OmniAb went public in May 2021.