OmniAb (NASDAQ:OABI) Trading Up 6.1% – Should You Buy?

Shares of OmniAb, Inc. (NASDAQ:OABI) traded up 6.1% during trading on Thursday . The company traded as high as $3.89 and last traded at $3.90. 225,189 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 480,724 shares. The stock had previously closed at $3.67.

Wall Street Analyst Weigh In

OABI has been the topic of a number of research analyst reports. Benchmark reissued a “buy” rating and set a $8.00 price objective on shares of OmniAb in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of OmniAb in a research note on Thursday, November 14th.

OmniAb Trading Up 9.1 %

The stock’s fifty day moving average price is $3.49 and its 200 day moving average price is $3.91. The stock has a market cap of $565.59 million, a P/E ratio of -6.41 and a beta of -0.12.

Insiders Place Their Bets

In other news, insider Charles S. Berkman sold 25,489 shares of the stock in a transaction 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 sale, the insider now directly owns 343,190 shares of the company’s stock, valued at approximately $1,111,935.60. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kurt A. Gustafson sold 7,255 shares of OmniAb stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $3.67, for a total value of $26,625.85. Following the completion of the transaction, the chief financial officer now directly owns 206,211 shares of the company’s stock, valued at approximately $756,794.37. This represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,260 shares of company stock worth $376,601. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of OmniAb

Institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC increased its position in shares of OmniAb by 33.3% during the fourth quarter. Squarepoint Ops LLC now owns 39,264 shares of the company’s stock valued at $139,000 after acquiring an additional 9,809 shares in the last quarter. Sherbrooke Park Advisers LLC increased its position in shares of OmniAb by 53.5% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 17,226 shares of the company’s stock valued at $61,000 after acquiring an additional 6,001 shares in the last quarter. ProShare Advisors LLC increased its position in shares of OmniAb by 29.9% during the fourth quarter. ProShare Advisors LLC now owns 31,724 shares of the company’s stock valued at $112,000 after acquiring an additional 7,302 shares in the last quarter. Northeast Financial Consultants Inc bought a new stake in shares of OmniAb during the fourth quarter valued at approximately $393,000. Finally, Millennium Management LLC increased its position in shares of OmniAb by 49.7% during the fourth quarter. Millennium Management LLC now owns 186,745 shares of the company’s stock valued at $661,000 after acquiring an additional 61,993 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors.

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.