Key Points
- Major shareholder Thermopylae Holdings bought 60,565 AbCellera shares at an average price of $11.54, spending about $698,920. It now owns roughly 56.2 million shares.
- AbCellera reported a quarterly loss of $0.13 per share, better than analysts’ $0.17 loss forecast, and revenue of $10.64 million, above the $8.42 million estimate.
- Analysts give the stock a “Moderate Buy” consensus rating, with an average price target of $16.20.
AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) major shareholder Holdings Ltd. Thermopylae acquired 60,565 shares of the firm's stock in a transaction on Thursday, November 12th. The stock was purchased at an average cost of $11.54 per share, for a total transaction of $698,920.10. Following the completion of the acquisition, the insider owned 56,194,662 shares in the company, valued at approximately $648,486,399.48. This represents a 0.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
AbCellera Biologics Price Performance
ABCL stock opened at $11.62 on Friday. AbCellera Biologics Inc. has a fifty-two week low of $2.74 and a fifty-two week high of $15.02. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -24.21 and a beta of 1.59. The business's fifty day moving average price is $12.34 and its two-hundred day moving average price is $7.19.
AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its earnings results on Monday, November 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.04. AbCellera Biologics had a negative net margin of 218.54% and a negative return on equity of 15.35%. The company had revenue of $10.64 million during the quarter, compared to analysts' expectations of $8.42 million. During the same quarter in the previous year, the business posted ($0.19) earnings per share. Research analysts expect that AbCellera Biologics Inc. will post -0.65 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. Wall Street Zen upgraded shares of AbCellera Biologics from a "sell" rating to a "hold" rating in a research note on Saturday, October 31st. Cantor Fitzgerald increased their target price on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. initiated coverage on shares of AbCellera Biologics in a report on Tuesday, September 29th. They set an "overweight" rating and a $17.00 target price on the stock. StoneX raised their target price on shares of AbCellera Biologics from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, The Goldman Sachs Group began coverage on shares of AbCellera Biologics in a research report on Thursday, September 24th. They issued a "neutral" rating and a $13.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $16.20.
Read Our Latest Stock Report on ABCL
Institutional Trading of AbCellera Biologics
A number of institutional investors have recently modified their holdings of ABCL. Bank of America Corp DE acquired a new stake in shares of AbCellera Biologics during the 2nd quarter worth $48,211,000. BlackRock Inc. bought a new position in shares of AbCellera Biologics in the second quarter worth $29,872,000. Royal Bank of Canada increased its position in shares of AbCellera Biologics by 5.6% in the first quarter. Royal Bank of Canada now owns 394,753 shares of the company's stock worth $1,378,000 after purchasing an additional 20,897 shares during the period. SEB Asset Management AB acquired a new position in AbCellera Biologics in the first quarter valued at about $1,188,000. Finally, Pictet Asset Management Holding SA acquired a new position in AbCellera Biologics in the third quarter valued at about $4,089,000. 61.42% of the stock is currently owned by institutional investors.
AbCellera Biologics Company Profile
(
Get Free Report)
AbCellera Biologics Inc. is a biotechnology company headquartered in Vancouver, Canada. It discovers and develops antibody-based medicines, using laboratory and computational tools to identify and optimize antibodies that may be developed into treatments for disease. The company works with pharmaceutical and biotechnology partners on antibody discovery and drug development, while also advancing a portfolio of its own therapeutic candidates. Its work spans early-stage research through preclinical and clinical development, with programs focused on areas including cancer and immune-related diseases.
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