AbCellera Biologics Inc. (NASDAQ:ABCL – Get Free Report) shares traded up 8.7% during mid-day trading on Tuesday . The stock traded as high as $9.96 and last traded at $10.1520. 4,091,649 shares traded hands during trading, a decline of 32% from the average daily volume of 5,976,931 shares. The stock had previously closed at $9.34.
Trending Headlines about AbCellera Biologics
Here are the key news stories impacting AbCellera Biologics this week:
- Positive Sentiment: Positive Phase 2 results: ABCL635 met its primary efficacy endpoints, significantly reducing the frequency and severity of vasomotor symptoms in the Phase 1/2 trial. The results were described as a potential “new efficacy benchmark,” strengthening investor confidence in AbCellera’s pipeline. AbCellera Announces Positive Top-Line Phase 2 Clinical Trial Results
- Positive Sentiment: Large stock-market reaction: Reports said the clinical results sent ABCL shares sharply higher in premarket trading, reflecting optimism that ABCL635 could address a substantial menopause-treatment market without relying on hormone therapy. AbCellera menopause drug cuts hot flashes in mid-stage trial
- Positive Sentiment: Unusually strong call-option demand: Investors purchased 16,666 call options, approximately 151% above the typical daily volume of 6,636 contracts. The activity signals increased near-term bullish speculation, although options positioning does not guarantee further gains. Investors Buy Large Volume of AbCellera Biologics Call Options
Wall Street Analyst Weigh In
Several brokerages have issued reports on ABCL. Stifel Nicolaus upped their target price on AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Wall Street Zen lowered AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Tuesday, July 7th. Finally, Cantor Fitzgerald upped their target price on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.40.
AbCellera Biologics Trading Up 5.5%
The firm has a market cap of $3.02 billion, a PE ratio of -18.23 and a beta of 1.20. The business has a fifty day moving average price of $6.28 and a 200 day moving average price of $4.73.
AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate 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 company had revenue of $4.05 million during the quarter, compared to analysts’ expectations of $7.85 million. On average, research analysts expect that AbCellera Biologics Inc. will post -0.67 earnings per share for the current fiscal year.
Institutional Investors Weigh In On AbCellera Biologics
Hedge funds and other institutional investors have recently bought and sold shares of the stock. AssuredPartners Investment Advisors LLC purchased a new stake in AbCellera Biologics in the fourth quarter valued at $34,000. Engineers Gate Manager LP acquired a new stake in shares of AbCellera Biologics during the fourth quarter worth about $38,000. Allworth Financial LP increased its position in shares of AbCellera Biologics by 857.0% during the fourth quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock worth $39,000 after purchasing an additional 10,096 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of AbCellera Biologics in the 1st quarter valued at about $46,000. Finally, Magnetar Financial LLC acquired a new stake in shares of AbCellera Biologics in the 4th quarter valued at about $49,000. 61.42% of the stock is currently owned by institutional investors and hedge funds.
AbCellera Biologics Company Profile
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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