AbCellera Biologics (NASDAQ:ABCL) Stock: Insider Holdings Ltd. Thermopylae Buys 60,565 Shares

Key Points

• Major shareholder Thermopylae Holdings bought 60,565 AbCellera shares at an average of $11.54, spending about $699,000; it now owns roughly 56.2 million shares.
• AbCellera reported quarterly EPS of -$0.13, beating the -$0.17 consensus, and revenue of $10.64 million versus the $8.41 million estimate.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $16.20; shares traded at $11.71 on Thursday.

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) major shareholder Holdings Ltd. Thermopylae bought 60,565 shares of the stock in a transaction on Thursday, November 12th. The shares were acquired at an average price of $11.54 per share, with a total value of $698,920.10. Following the purchase, the insider owned 56,194,662 shares of the company's stock, valued at $648,486,399.48. The trade was a 0.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

AbCellera Biologics Stock Performance

Shares of AbCellera Biologics stock traded down $0.24 during trading hours on Thursday, reaching $11.71. The company's stock had a trading volume of 2,277,972 shares, compared to its average volume of 5,819,444. The company's 50 day simple moving average is $12.33 and its 200 day simple moving average is $7.16. AbCellera Biologics Inc. has a one year low of $2.74 and a one year high of $15.02. The stock has a market cap of $3.59 billion, a P/E ratio of -24.39 and a beta of 1.59.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.04. The business had revenue of $10.64 million during the quarter, compared to the consensus estimate of $8.41 million. AbCellera Biologics had a negative net margin of 218.54% and a negative return on equity of 15.35%. During the same quarter in the prior year, the firm earned ($0.19) EPS. On average, sell-side analysts predict that AbCellera Biologics Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC acquired a new position in shares of AbCellera Biologics during the 3rd quarter valued at $2,743,000. Cibc World Market Inc. raised its stake in shares of AbCellera Biologics by 34.9% in the 3rd quarter. Cibc World Market Inc. now owns 23,261 shares of the company's stock worth $339,000 after buying an additional 6,015 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of AbCellera Biologics by 24.7% in the third quarter. HighTower Advisors LLC now owns 134,631 shares of the company's stock valued at $1,964,000 after buying an additional 26,698 shares during the period. Bessemer Group Inc. acquired a new stake in shares of AbCellera Biologics in the third quarter valued at $380,000. Finally, Allworth Financial LP boosted its stake in AbCellera Biologics by 35.3% during the third quarter. Allworth Financial LP now owns 15,748 shares of the company's stock valued at $230,000 after buying an additional 4,105 shares in the last quarter. 61.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABCL shares. Truist Financial increased their price target on AbCellera Biologics from $12.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Stifel Nicolaus boosted their target price on shares of AbCellera Biologics from $9.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday. UBS Group assumed coverage on AbCellera Biologics in a report on Monday, October 12th. They set a "buy" rating and a $18.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of AbCellera Biologics in a report on Thursday, October 15th. Finally, Cantor Fitzgerald lifted their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, AbCellera Biologics has an average rating of "Moderate Buy" and a consensus price target of $16.20.

AbCellera Biologics Company Profile

AbCellera Biologics Inc. is a biotechnology company headquartered in Vancouver, Canada. It discovers and develops antibody-based medicines, using laboratory and computational tools to identify and optimize antibodies that may be developed into treatments for disease. The company works with pharmaceutical and biotechnology partners on antibody discovery and drug development, while also advancing a portfolio of its own therapeutic candidates. Its work spans early-stage research through preclinical and clinical development, with programs focused on areas including cancer and immune-related diseases.

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