John L. Higgins Acquires 125,750 Shares of OmniAb, Inc. (NASDAQ:OABI) Stock

OmniAb, Inc. (NASDAQ:OABI) Director John L. Higgins acquired 125,750 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was purchased at an average price of $2.35 per share, with a total value of $295,512.50. Following the transaction, the director now owns 2,762,887 shares of the company’s stock, valued at approximately $6,492,784.45. This trade represents a 4.77 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

OmniAb Trading Down 10.6 %

OABI stock traded down $0.27 during mid-day trading on Thursday, reaching $2.27. The company’s stock had a trading volume of 2,401,389 shares, compared to its average volume of 533,831. The stock has a market cap of $320.56 million, a PE ratio of -3.66 and a beta of -0.14. OmniAb, Inc. has a fifty-two week low of $2.24 and a fifty-two week high of $5.72. The company’s 50 day moving average is $3.36 and its two-hundred day moving average is $3.78.

OmniAb (NASDAQ:OABI) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The company had revenue of $10.80 million during the quarter, compared to the consensus estimate of $10.13 million. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. During the same quarter in the prior year, the firm earned ($0.14) EPS. On average, analysts forecast that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OABI has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of OmniAb in a research report on Wednesday. Benchmark reduced their price target on shares of OmniAb from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday.

Institutional Trading of OmniAb

Several hedge funds have recently made changes to their positions in OABI. Murchinson Ltd. purchased a new stake in shares of OmniAb in the 3rd quarter valued at approximately $4,230,000. JPMorgan Chase & Co. grew its stake in shares of OmniAb by 582.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,001,797 shares of the company’s stock valued at $3,546,000 after buying an additional 854,929 shares during the period. Royce & Associates LP grew its stake in shares of OmniAb by 438.6% in the 4th quarter. Royce & Associates LP now owns 707,080 shares of the company’s stock valued at $2,503,000 after buying an additional 575,796 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of OmniAb by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,025,674 shares of the company’s stock worth $10,711,000 after purchasing an additional 142,513 shares during the period. Finally, Northeast Financial Consultants Inc purchased a new position in shares of OmniAb during the 4th quarter worth approximately $393,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

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.