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Charles S. Berkman, the Chief Legal Officer of OmniAb, Inc. (NASDAQ:OABI), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On February 18 and 19, Berkman sold a total of 15,470 shares of OmniAb common stock, netting approximately $56,857. The shares were sold at prices ranging from $3.67 to $3.68 per share, close to the current trading price of $3.67. The company, with a market capitalization of $461 million, has shown resilience with a positive YTD return of 3.67%. InvestingPro analysis reveals 8 additional key insights about OABI’s financial health and market position.
These transactions were part of a "sell-to-cover" arrangement, which is designed to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). The sales were not discretionary trades by Berkman but were mandated by OmniAb’s equity incentive plans. The company maintains a strong financial position, with a healthy current ratio of 4.62, indicating robust liquidity to meet its short-term obligations.
Earlier in the month, Berkman acquired 29,156 shares of common stock through the vesting of RSUs on February 15 and 16. These acquisitions did not involve any financial outlay as they were part of a pre-structured equity compensation plan. Following these transactions, Berkman holds a significant number of shares in the company, reflecting his ongoing investment in OmniAb. Based on InvestingPro’s Fair Value analysis, the stock currently appears fairly valued. Discover comprehensive insights and detailed financial analysis in the Pro Research Report, available exclusively to InvestingPro subscribers.
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