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

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

OmniAb Trading Up 11.5 %

Shares of NASDAQ:OABI opened at $2.53 on Friday. The firm has a 50 day moving average of $3.34 and a 200-day moving average of $3.77. The stock has a market capitalization of $357.28 million, a PE ratio of -4.08 and a beta of -0.14. OmniAb, Inc. has a 12 month low of $2.23 and a 12 month high of $5.63.

OmniAb (NASDAQ:OABI) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $10.80 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned ($0.14) EPS. On average, research analysts predict that OmniAb, Inc. will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On OmniAb

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in OmniAb by 321.5% during the 3rd quarter. Barclays PLC now owns 143,215 shares of the company’s stock worth $606,000 after purchasing an additional 109,236 shares in the last quarter. FMR LLC increased its position in OmniAb by 10.6% during the 3rd quarter. FMR LLC now owns 138,813 shares of the company’s stock worth $587,000 after purchasing an additional 13,324 shares in the last quarter. Atria Investments Inc acquired a new position in OmniAb during the 3rd quarter worth approximately $148,000. Murchinson Ltd. bought a new stake in OmniAb during the 3rd quarter worth approximately $4,230,000. Finally, State Street Corp grew its holdings in OmniAb by 1.7% during the 3rd quarter. State Street Corp now owns 2,031,676 shares of the company’s stock worth $8,594,000 after acquiring an additional 34,654 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Benchmark lowered their price target on shares of OmniAb from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a research report on Wednesday.

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.