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John L. Higgins, a director at OmniAb, Inc. (NASDAQ:OABI), recently acquired 4,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were purchased at a weighted average price of $2.28, resulting in a total transaction value of $9,120. The purchase comes as the stock has declined over 23% in the past week, according to InvestingPro data. This acquisition brings Higgins’ total holdings to 2,766,887 shares. The shares were bought in multiple transactions, with prices ranging from $2.27 to $2.29. The company maintains strong liquidity with a current ratio of 4.52 and holds more cash than debt on its balance sheet. Analyst price targets range from $4 to $12, suggesting potential upside from current levels. Get deeper insights into OABI’s financial health and more exclusive analysis with InvestingPro’s comprehensive research report.
In other recent news, OmniAb Inc. reported a substantial increase in revenue for the fourth quarter of 2024, reaching $10.8 million, more than doubling from $4.8 million the previous year. Despite this revenue growth, the company posted a net loss of $13.1 million or $0.12 per share, slightly improving from the previous year’s net loss of $14.1 million or $0.14 per share. Benchmark analysts responded by lowering their price target for OmniAb from $8 to $6, while maintaining a Buy rating on the stock, reflecting continued confidence in the company’s growth potential. OmniAb’s 2025 financial guidance projects revenues between $20 million and $25 million, with operating expenses expected to range from $90 million to $95 million.
The company announced positive developments, including the signing of 10 new license agreements in 2024 and the entry of five new OmniAb-derived antibodies into clinical trials. OmniAb’s strategic focus on expanding its technological capabilities and clinical programs remains a priority. The company ended 2024 with a net loss of $62 million or $0.61 per share, highlighting ongoing challenges in managing costs. The firm exited 2024 with a strong cash position of $59.4 million. Despite financial challenges, OmniAb’s management and analysts, such as those from Benchmark, express optimism about the company’s long-term pipeline and innovation-driven growth strategy.
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