AbCellera Biologics (NASDAQ:ABCL) Sees Unusually-High Trading Volume

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) saw unusually-high trading volume on Wednesday . Approximately 41,187 shares were traded during trading, a decline of 97% from the previous session’s volume of 1,477,312 shares.The stock last traded at $18.41 and had previously closed at $17.56.

ABCL has been the subject of several research analyst reports. SVB Leerink reaffirmed a “buy” rating on shares of AbCellera Biologics in a research note on Sunday, August 15th. Zacks Investment Research lowered AbCellera Biologics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 18th. Credit Suisse Group dropped their price target on AbCellera Biologics from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 13th. Finally, Berenberg Bank reaffirmed a “buy” rating on shares of AbCellera Biologics in a research note on Monday, June 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $46.83.

The business has a 50 day moving average price of $16.88 and a two-hundred day moving average price of $24.23. The company has a market cap of $5.13 billion and a P/E ratio of 42.09.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Wednesday, August 11th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). Research analysts expect that AbCellera Biologics Inc. will post 0.31 earnings per share for the current fiscal year.

In other AbCellera Biologics news, Director Michael R. Hayden sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 22nd. The stock was sold at an average price of $25.50, for a total transaction of $2,550,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Hamer sold 162,649 shares of the company’s stock in a transaction that occurred on Tuesday, August 31st. The shares were sold at an average price of $16.95, for a total value of $2,756,900.55. The disclosure for this sale can be found here. Insiders own 45.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. Marshall Wace LLP grew its holdings in shares of AbCellera Biologics by 439.6% during the 2nd quarter. Marshall Wace LLP now owns 273,279 shares of the company’s stock worth $6,011,000 after acquiring an additional 222,638 shares during the period. Morgan Stanley grew its holdings in shares of AbCellera Biologics by 693.5% during the 2nd quarter. Morgan Stanley now owns 574,193 shares of the company’s stock worth $12,633,000 after acquiring an additional 501,828 shares during the period. Blackstone Inc purchased a new position in shares of AbCellera Biologics during the 2nd quarter worth approximately $7,700,000. Woodline Partners LP grew its holdings in shares of AbCellera Biologics by 55.7% during the 2nd quarter. Woodline Partners LP now owns 396,816 shares of the company’s stock worth $8,730,000 after acquiring an additional 141,914 shares during the period. Finally, Guardian Capital Advisors LP purchased a new position in shares of AbCellera Biologics during the 2nd quarter worth approximately $81,428,000. Hedge funds and other institutional investors own 32.15% of the company’s stock.

About AbCellera Biologics (NASDAQ:ABCL)

AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, AI-powered drug discovery platform searches and analyzes the database of natural immune systems to find antibodies that can be developed as drugs. As of December 31, 2020, the company had 103 discovery programs that are either completed, in progress, or under contract.

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