Gold prices dip as hawkish Fed minutes weigh ahead of Jackson Hole
John L. Higgins, a director at OmniAb, Inc. (NASDAQ:OABI), recently acquired a significant amount of the company’s common stock. According to a filing with the Securities and Exchange Commission, Higgins purchased 125,750 shares at an average price of $2.35 per share, totaling approximately $295,512. The timing of this purchase is notable as InvestingPro data shows the stock trading near its 52-week low of $2.23, having declined over 31% in the past week. Analysis from InvestingPro suggests the stock may be undervalued at current levels.
This transaction, completed on March 20, 2025, increases Higgins’ direct ownership to 2,762,887 shares. The shares were bought in multiple transactions with prices ranging from $2.27 to $2.39. With the company’s earnings report due tomorrow, InvestingPro subscribers can access comprehensive insider trading analysis, real-time Fair Value calculations, and 12 additional ProTips to make more informed investment decisions.
In other recent news, OmniAb Inc. reported a significant revenue increase for the fourth quarter of 2024, reaching $10.8 million, compared to $4.8 million in the same period the previous year. Despite the revenue growth, the company posted a net loss of $13.1 million or $0.12 per share, which was not as favorable as the $14.1 million or $0.14 per share net loss from the prior year. Benchmark analysts responded by lowering the price target for OmniAb shares to $6 from $8, while maintaining a Buy rating, reflecting confidence in the company’s growth potential. OmniAb’s management provided guidance for 2025, projecting revenue between $20 million and $25 million, with operating expenses expected to range from $90 million to $95 million. The company signed 10 new license agreements throughout 2024, including two in the fourth quarter, and introduced five new antibodies into clinical trials. OmniAb’s strategic focus on antibody development and innovation in technology platforms continues, with plans to launch several new clinical programs in 2025. The company holds a cash position of $59.4 million as of the end of 2024, and aims to leverage its innovative capabilities as a competitive advantage.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.