Stock Traders Buy High Volume of Call Options on AbCellera Biologics (NASDAQ:ABCL)

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) saw unusually large options trading activity on Wednesday. Stock traders bought 8,562 call options on the stock. This represents an increase of approximately 1,191% compared to the average daily volume of 663 call options.

Institutional Trading of AbCellera Biologics

A number of hedge funds have recently bought and sold shares of ABCL. Moloney Securities Asset Management LLC acquired a new position in shares of AbCellera Biologics in the 4th quarter valued at about $265,000. State of New Jersey Common Pension Fund D acquired a new position in shares of AbCellera Biologics in the 4th quarter valued at about $36,000. Raymond James Financial Inc. acquired a new position in shares of AbCellera Biologics in the 4th quarter valued at about $57,000. HighTower Advisors LLC increased its holdings in shares of AbCellera Biologics by 577.9% in the 4th quarter. HighTower Advisors LLC now owns 71,086 shares of the company's stock valued at $208,000 after purchasing an additional 60,600 shares during the period. Finally, IMG Wealth Management Inc. acquired a new position in shares of AbCellera Biologics in the 4th quarter valued at about $56,000. 61.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ABCL shares. KeyCorp increased their price target on shares of AbCellera Biologics from $4.00 to $5.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Truist Financial reduced their target price on shares of AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Stifel Nicolaus cut their price target on shares of AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, Benchmark restated a "hold" rating on shares of AbCellera Biologics in a research report on Monday, March 3rd.

AbCellera Biologics Stock Performance

NASDAQ ABCL traded up $0.05 on Friday, reaching $3.20. The company's stock had a trading volume of 7,067,441 shares, compared to its average volume of 3,163,232. AbCellera Biologics has a twelve month low of $1.89 and a twelve month high of $3.68. The stock has a market cap of $954.96 million, a PE ratio of -5.25 and a beta of 0.36. The firm's 50 day moving average is $2.31 and its two-hundred day moving average is $2.65.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.02. AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. The company had revenue of $4.24 million during the quarter, compared to analyst estimates of $7.12 million. Equities research analysts anticipate that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

About AbCellera Biologics

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.