AbCellera Biologics Sees Unusually High Options Volume (NASDAQ:ABCL)

AbCellera Biologics Inc. (NASDAQ:ABCL – Get Free Report) was the target of some unusual options trading on Monday. Investors bought 16,666 call options on the stock. This is an increase of approximately 151% compared to the average volume of 6,636 call options.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ABCL. Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Stifel Nicolaus lifted their price objective on AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald boosted their target price on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. Finally, Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, AbCellera Biologics presently has a consensus rating of “Moderate Buy” and an average price target of $9.40.

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AbCellera Biologics Price Performance

Shares of ABCL traded up $2.37 on Monday, hitting $9.30. The company’s stock had a trading volume of 24,324,009 shares, compared to its average volume of 5,830,630. The company has a market capitalization of $2.85 billion, a PE ratio of -17.38 and a beta of 1.20. AbCellera Biologics has a fifty-two week low of $2.74 and a fifty-two week high of $9.76. The company has a 50 day moving average price of $6.22 and a 200 day moving average price of $4.69.

AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. The business had revenue of $4.05 million for the quarter, compared to analyst estimates of $7.85 million. On average, equities analysts forecast that AbCellera Biologics will post -0.67 EPS for the current year.

Institutional Trading of AbCellera Biologics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. lifted its position in AbCellera Biologics by 114.6% during the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock worth $54,000 after buying an additional 12,893 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of AbCellera Biologics by 3.5% in the second quarter. Geode Capital Management LLC now owns 363,188 shares of the company’s stock worth $1,246,000 after acquiring an additional 12,301 shares during the last quarter. Creative Planning raised its stake in shares of AbCellera Biologics by 6.9% in the second quarter. Creative Planning now owns 41,003 shares of the company’s stock worth $141,000 after acquiring an additional 2,656 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of AbCellera Biologics by 17.0% during the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock worth $96,000 after purchasing an additional 4,070 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of AbCellera Biologics by 1,304.5% during the second quarter. Bank of America Corp DE now owns 224,365 shares of the company’s stock worth $770,000 after purchasing an additional 208,390 shares in the last quarter. 61.42% of the stock is currently owned by institutional investors and hedge funds.

AbCellera Biologics Company Profile

(Get Free Report)

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.

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