OmniAb (NASDAQ:OABI) Insider Charles Berkman Sells 9,673 Shares

OmniAb, Inc. (NASDAQ:OABI) insider Charles Berkman sold 9,673 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $1.71, for a total transaction of $16,540.83. Following the completion of the sale, the insider owned 392,700 shares of the company’s stock, valued at approximately $671,517. The trade was a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

OmniAb Stock Performance

Shares of OABI opened at $1.71 on Thursday. The stock’s fifty day simple moving average is $1.89 and its 200 day simple moving average is $1.76. OmniAb, Inc. has a twelve month low of $1.22 and a twelve month high of $4.02. The firm has a market capitalization of $246.17 million, a P/E ratio of -2.95 and a beta of 0.13.

Institutional Trading of OmniAb

Several large investors have recently bought and sold shares of OABI. Millennium Management LLC raised its stake in shares of OmniAb by 135.6% during the fourth quarter. Millennium Management LLC now owns 673,395 shares of the company’s stock valued at $1,246,000 after purchasing an additional 387,594 shares during the period. Boothbay Fund Management LLC purchased a new position in shares of OmniAb in the fourth quarter valued at $88,000. Bridgeway Capital Management LLC grew its holdings in OmniAb by 29.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 198,900 shares of the company’s stock valued at $368,000 after purchasing an additional 45,000 shares in the last quarter. Cadian Capital Management LP increased its stake in OmniAb by 20.7% during the 4th quarter. Cadian Capital Management LP now owns 4,434,954 shares of the company’s stock worth $8,205,000 after buying an additional 759,386 shares during the period. Finally, Barclays PLC lifted its holdings in OmniAb by 15.2% in the 4th quarter. Barclays PLC now owns 165,557 shares of the company’s stock worth $306,000 after buying an additional 21,847 shares in the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of OmniAb in a research note on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $6.67.

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.