OmniAb (NASDAQ:OABI) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

OmniAb (NASDAQ:OABI) posted its quarterly earnings results on Tuesday. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01, Zacks reports. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%.

OmniAb Stock Performance

OmniAb stock traded up $0.02 during midday trading on Tuesday, reaching $3.19. 514,113 shares of the stock were exchanged, compared to its average volume of 523,043. The company’s fifty day moving average is $3.42 and its 200-day moving average is $3.81. The firm has a market cap of $450.48 million, a PE ratio of -5.15 and a beta of -0.14. OmniAb has a 52 week low of $3.05 and a 52 week high of $5.72.

Insider Buying and Selling

In other news, insider Charles S. Berkman sold 8,215 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $3.68, for a total value of $30,231.20. Following the transaction, the insider now owns 364,131 shares of the company’s stock, valued at $1,340,002.08. This represents a 2.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kurt A. Gustafson sold 15,526 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $3.24, for a total transaction of $50,304.24. Following the completion of the sale, the chief financial officer now directly owns 212,720 shares of the company’s stock, valued at $689,212.80. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,260 shares of company stock valued at $376,601. Company insiders own 8.60% 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.