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Charles S. Berkman, the Chief Legal Officer of OmniAb, Inc. (NASDAQ:OABI), a company currently valued at $255 million, recently executed a series of stock transactions that included both acquisitions and sales. The stock, which trades at $2.09, has seen significant pressure, declining over 46% in the past six months. On April 7, 2025, Berkman acquired 13,542 shares of common stock through the vesting of restricted stock units, which were priced at $0 per share.
In a separate transaction on the same day, Berkman sold 7,206 shares of OmniAb common stock. The shares were sold at a weighted average price of $2, resulting in a total transaction value of $14,412. This sale was conducted to cover tax withholding obligations related to the vesting of the restricted stock units, as mandated by OmniAb's equity incentive plans. According to InvestingPro data, analysts maintain a strong buy consensus on the stock, with price targets ranging from $4 to $12.
Following these transactions, Berkman holds a total of 363,212 shares of OmniAb common stock directly. For deeper insights into insider trading patterns and comprehensive analysis of OmniAb's financial health, InvestingPro subscribers can access detailed reports and real-time alerts.
In other recent news, OmniAb Inc. announced a notable increase in revenue for the fourth quarter of 2024, reaching $10.8 million, which more than doubled from $4.8 million in the same period the previous year. Despite this growth, the company reported a net loss of $13.1 million, or $0.12 per share, slightly improved from the prior year's loss of $14.1 million, or $0.14 per share. Benchmark analysts responded to these results by lowering OmniAb's stock price target from $8 to $6, while maintaining a Buy rating, citing confidence in the company's growth potential despite financial adjustments. OmniAb's management has provided guidance for 2025, projecting revenues between $20 million and $25 million, with operating expenses expected to range from $90 million to $95 million. The company also announced the signing of 10 new license agreements in 2024 and the entry of five new OmniAb-derived antibodies into clinical trials through licensing partners. Additionally, OmniAb's CFO, Kurt Gustafson, highlighted a strategic shift towards antibody focus, which involved a reduction in ion channel related headcount. The company remains committed to innovation, with plans to launch new technologies in 2025, aiming to enhance its competitive advantage.
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