US stock futures flounder amid tech weakness, Fed caution
Kurt A. Gustafson, Executive Vice President, Finance and CFO of OmniAb, Inc. (NASDAQ:OABI), recently sold shares of the company's common stock. According to a filing with the Securities and Exchange Commission, Gustafson sold 7,206 shares at an average price of approximately $2.00 per share, totaling $14,412. This sale was executed on April 7, 2025, as part of a transaction required to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). The transaction comes as OmniAb's stock has declined nearly 47% over the past six months, though InvestingPro data shows the company maintains a strong balance sheet with more cash than debt.
In addition to the sale, Gustafson acquired 13,542 shares of common stock through the vesting of RSUs. These units were vested at no cost, as part of a grant that vests in three annual installments, starting from April 7, 2024. Following these transactions, Gustafson holds 223,828 shares of OmniAb stock directly. According to InvestingPro analysis, the stock is currently trading near its Fair Value, with analysts setting price targets ranging from $4 to $12 per share. Get access to 10+ additional exclusive ProTips and comprehensive financial analysis through the OmniAb Pro Research Report, available on InvestingPro.
In other recent news, OmniAb Inc. reported a notable revenue increase for the fourth quarter of 2024, reaching $10.8 million, more than doubling from $4.8 million in the same quarter of the previous year. Despite this growth, the company's net loss for the full year amounted to $62 million or $0.61 per share. OmniAb provided financial guidance for 2025, projecting revenue between $20 million and $25 million, with operating expenses expected to be between $90 million and $95 million. Benchmark analysts have adjusted their outlook on OmniAb, reducing the price target to $6 from $8 but maintaining a Buy rating, reflecting confidence in the company's growth potential despite recent financial adjustments.
OmniAb announced the signing of 10 new license agreements throughout 2024, with two in the fourth quarter, and five new OmniAb-derived antibodies entered clinical trials during the year. The company highlighted its strategic focus on expanding technological capabilities and launching several new clinical programs in 2025. OmniAb's management emphasized their commitment to innovation, with CEO Matt stating that this is a significant competitive advantage. The company is also focusing on leveraging its partnerships and launching novel technologies to drive future growth. Despite the challenges of high operating expenses impacting profitability, OmniAb's strategic shifts and technological advancements are viewed positively by analysts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.