OmniAb (NASDAQ:OABI) Trading Up 6.1% – Here’s What Happened

OmniAb, Inc. (NASDAQ:OABI)’s share price was up 6.1% on Thursday . The stock traded as high as $3.89 and last traded at $3.90. Approximately 225,189 shares were traded during trading, a decline of 53% from the average daily volume of 480,724 shares. The stock had previously closed at $3.67.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on OABI shares. Benchmark restated a “buy” rating and set a $8.00 target price on shares of OmniAb in a research note on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of OmniAb in a research note on Thursday, November 14th.

OmniAb Trading Up 9.1 %

The firm has a market capitalization of $565.59 million, a P/E ratio of -6.41 and a beta of -0.12. The firm has a 50 day moving average price of $3.49 and a 200-day moving average price of $3.91.

Insiders Place Their Bets

In other OmniAb news, CEO Matthew W. Foehr sold 41,811 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total transaction of $135,467.64. Following the completion of the transaction, the chief executive officer now owns 3,749,639 shares in the company, valued at $12,148,830.36. The trade was a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charles S. Berkman sold 25,489 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total value of $82,584.36. Following the completion of the sale, the insider now owns 343,190 shares in the company, valued at approximately $1,111,935.60. The trade was a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,260 shares of company stock valued at $376,601 over the last three months. 8.60% of the stock is owned by company insiders.

Institutional Trading of OmniAb

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC increased its stake in OmniAb by 321.5% in the 3rd quarter. Barclays PLC now owns 143,215 shares of the company’s stock worth $606,000 after buying an additional 109,236 shares during the period. FMR LLC increased its position in shares of OmniAb by 10.6% during the third quarter. FMR LLC now owns 138,813 shares of the company’s stock worth $587,000 after acquiring an additional 13,324 shares during the period. Atria Investments Inc bought a new stake in shares of OmniAb during the third quarter valued at approximately $148,000. Murchinson Ltd. purchased a new stake in shares of OmniAb in the third quarter valued at approximately $4,230,000. Finally, State Street Corp increased 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 purchasing an additional 34,654 shares during the period. 72.08% of the stock is currently owned by institutional investors.

OmniAb Company Profile

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.