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

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 8,562 call options on the company. This represents an increase of approximately 1,191% compared to the average volume of 663 call options.

Analyst Upgrades and Downgrades

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

Institutional Trading of AbCellera Biologics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Stratos Wealth Advisors LLC acquired a new stake in AbCellera Biologics in the first quarter valued at $27,000. DKM Wealth Management Inc. bought a new stake in shares of AbCellera Biologics in the 4th quarter valued at about $29,000. Janney Montgomery Scott LLC bought a new stake in shares of AbCellera Biologics in the 1st quarter valued at about $29,000. AssuredPartners Investment Advisors LLC bought a new stake in AbCellera Biologics in the first quarter valued at approximately $34,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in AbCellera Biologics in the fourth quarter valued at approximately $36,000. 61.42% of the stock is currently owned by institutional investors and hedge funds.

AbCellera Biologics Stock Performance

Shares of NASDAQ:ABCL traded down $0.09 during midday trading on Thursday, hitting $3.14. 7,049,781 shares of the stock were exchanged, compared to its average volume of 3,128,506. The stock has a market capitalization of $937.05 million, a price-to-earnings ratio of -5.15 and a beta of 0.36. The business's 50-day moving average price is $2.26 and its 200 day moving average price is $2.65. AbCellera Biologics has a 12 month low of $1.89 and a 12 month high of $3.68.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share for the quarter, topping 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 firm had revenue of $4.24 million for the quarter, compared to analyst estimates of $7.12 million. As a group, sell-side analysts expect that AbCellera Biologics will post -0.59 EPS for the current year.

AbCellera Biologics Company Profile

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.