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OmniAb CFO sells stock worth over $64k By Investing.com

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OmniAb, Inc. (NASDAQ:OABI) has reported a recent transaction involving its Executive Vice President of Finance and Chief Financial Officer, Kurt A. Gustafson. According to the latest filing, Gustafson sold a total of 11,849 shares of the company’s common stock at an average price of $5.46 per share, amounting to over $64,695.

The transaction took place on April 1, 2024, and was disclosed in a Form 4 filing with the Securities and Exchange Commission. Following the sale, Gustafson’s direct ownership in OmniAb stands at 170,110 shares of common stock.

In addition to the sale, the filing revealed that Gustafson also acquired 23,254 shares on the same day through the vesting of restricted stock units (RSUs). The RSUs vested as part of a grant that is scheduled to occur in three substantially equal annual installments, beginning on April 1, 2023, following the terms of the November 2022 Business Combination. Each RSU represents a contingent right to receive one share of OmniAb’s common stock.

The vesting of these RSUs also triggered a mandatory sale of shares to satisfy tax withholding obligations, which is reflected in the sale transaction reported.

Investors keeping tabs on insider transactions at OmniAb, Inc. will note that the recent sale by the CFO represents a notable change in his holdings in the company. However, the vesting of RSUs and the subsequent sale to cover tax liabilities is a common practice among corporate executives.

OmniAb, Inc., with its focus on commercial physical and biological research, continues to be a company of interest for those following the biotech sector. The company’s stock, traded under the ticker OABI, reflects the ongoing activities and strategic decisions made by its leadership team.

InvestingPro Insights

As OmniAb, Inc. (NASDAQ:OABI) navigates the complexities of the biotech industry, recent financial data and analyst insights from InvestingPro provide a deeper look into the company’s performance and future potential. OmniAb’s executive financial decisions, including those by CFO Kurt A. Gustafson, are set against a backdrop of key financial metrics that investors should consider.

InvestingPro data highlights a challenging financial landscape for OmniAb, with a negative P/E ratio of -10.22 and an adjusted P/E ratio for the last twelve months as of Q4 2023 standing at -12.44. This suggests that the company is currently not profitable, which is further evidenced by the fact that analysts do not expect OmniAb to be…

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