Insider Selling: OmniAb, Inc. (NASDAQ:OABI) CEO Sells 41,811 Shares of Stock

OmniAb, Inc. (NASDAQ:OABI) CEO Matthew W. Foehr sold 41,811 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $3.24, for a total value of $135,467.64. Following the transaction, the chief executive officer now owns 3,749,639 shares in the company, valued at $12,148,830.36. This represents a 1.10 % 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

NASDAQ:OABI traded down $0.02 on Wednesday, hitting $3.20. 576,116 shares of the stock were exchanged, compared to its average volume of 413,324. OmniAb, Inc. has a 52 week low of $3.16 and a 52 week high of $6.55. The company’s 50-day moving average price is $3.69 and its 200 day moving average price is $4.07. The stock has a market capitalization of $451.90 million, a price-to-earnings ratio of -5.16 and a beta of -0.10.

Analyst Upgrades and Downgrades

OABI has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of OmniAb in a research report on Thursday, November 14th. Benchmark reiterated a “buy” rating and set a $8.00 target price on shares of OmniAb in a research report on Thursday, November 14th.

Institutional Trading of OmniAb

Institutional investors and hedge funds have recently made changes to their positions in the business. CWC Advisors LLC. bought a new position in OmniAb during the third quarter worth about $54,000. Walleye Capital LLC bought a new position in OmniAb during the 3rd quarter worth about $61,000. Intech Investment Management LLC acquired a new stake in OmniAb in the 3rd quarter valued at approximately $70,000. China Universal Asset Management Co. Ltd. boosted its position in OmniAb by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,727 shares of the company’s stock worth $96,000 after acquiring an additional 8,909 shares during the last quarter. Finally, Palumbo Wealth Management LLC lifted its position 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 worth $104,000 after purchasing an additional 2,744 shares in the last quarter. 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.