OmniAb, Inc. (NASDAQ:OABI) CFO Kurt A. Gustafson Sells 6,954 Shares of Stock

OmniAb, Inc. (NASDAQ:OABI) CFO Kurt A. Gustafson sold 6,954 shares of OmniAb stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $5.27, for a total value of $36,647.58. Following the transaction, the chief financial officer now owns 176,697 shares of the company’s stock, valued at $931,193.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

OmniAb Stock Up 2.3 %

Shares of NASDAQ:OABI opened at $5.43 on Wednesday. The firm’s 50 day moving average price is $5.50 and its 200 day moving average price is $5.34. The stock has a market cap of $635.99 million, a price-to-earnings ratio of -10.65 and a beta of -0.18. OmniAb, Inc. has a fifty-two week low of $3.14 and a fifty-two week high of $6.72.

Institutional Trading of OmniAb

Several hedge funds have recently added to or reduced their stakes in OABI. California State Teachers Retirement System acquired a new stake in OmniAb in the first quarter valued at approximately $384,000. Bank of New York Mellon Corp acquired a new stake in OmniAb during the first quarter worth approximately $1,341,000. Swiss National Bank acquired a new stake in OmniAb during the first quarter worth approximately $684,000. Credit Suisse AG acquired a new stake in OmniAb during the first quarter worth approximately $319,000. Finally, Guggenheim Capital LLC acquired a new stake in OmniAb during the first quarter worth approximately $125,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $8.00 price objective on shares of OmniAb in a report on Friday, March 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of OmniAb in a research note on Thursday, March 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $7.00 price objective on shares of OmniAb in a report on Thursday, March 21st. Finally, Truist Financial reaffirmed a “buy” rating and set a $10.00 target price on shares of OmniAb in a research note on Tuesday, March 26th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $9.20.

OmniAb Company Profile

OmniAb, Inc, a biotechnology company, engages in the provision of therapeutic antibody discovery technologies in the United States. The company's discovery platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts. Its OmniAb platform is the biological intelligence of proprietary transgenic animals, including OmniRat, OmniChicken, and OmniMouse that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates.