OmniAb, Inc. (NASDAQ:OABI) CFO Sells $50,304.24 in Stock

OmniAb, Inc. (NASDAQ:OABI) CFO Kurt A. Gustafson sold 15,526 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $3.24, for a total value of $50,304.24. Following the sale, the chief financial officer now owns 212,720 shares in the company, valued at approximately $689,212.80. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

OmniAb Stock Performance

Shares of OABI stock opened at $3.20 on Friday. The stock has a 50 day moving average price of $3.64 and a 200 day moving average price of $4.05. OmniAb, Inc. has a 52-week low of $3.11 and a 52-week high of $6.55. The firm has a market capitalization of $451.90 million, a P/E ratio of -5.16 and a beta of -0.10.

Institutional Trading of OmniAb

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWC Advisors LLC. bought a new position in shares of OmniAb in the third quarter worth about $54,000. Walleye Capital LLC bought a new position in OmniAb in the 3rd quarter worth about $61,000. Intech Investment Management LLC purchased a new position in shares of OmniAb during the third quarter worth approximately $70,000. China Universal Asset Management Co. Ltd. raised its stake in shares of OmniAb by 64.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 22,727 shares of the company’s stock valued at $96,000 after acquiring an additional 8,909 shares in the last quarter. Finally, Palumbo Wealth Management LLC boosted its holdings in shares of OmniAb by 12.5% in the third quarter. Palumbo Wealth Management LLC now owns 24,640 shares of the company’s stock valued at $104,000 after purchasing an additional 2,744 shares during the period. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on OABI. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of OmniAb in a report on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $8.00 target price on shares of OmniAb in a report on Thursday, November 14th.

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.