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

AbCellera Biologics Inc. (NASDAQ:ABCL) saw unusually-high trading volume on Wednesday . Approximately 41,187 shares changed hands 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 a number of research analyst reports. SVB Leerink restated a “buy” rating on shares of AbCellera Biologics in a research report on Sunday, August 15th. Zacks Investment Research lowered AbCellera Biologics from a “buy” rating to a “hold” rating in a research report on Wednesday, August 18th. Berenberg Bank restated a “buy” rating on shares of AbCellera Biologics in a research report on Monday, June 28th. Finally, Credit Suisse Group cut their price objective on AbCellera Biologics from $51.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, August 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, AbCellera Biologics has an average rating of “Buy” and an average target price of $46.83.

The company has a market cap of $5.13 billion and a PE ratio of 42.09. The company has a 50-day moving average of $16.88 and a 200 day moving average of $24.23.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Wednesday, August 11th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.05). On average, sell-side analysts expect that AbCellera Biologics Inc. will post 0.31 earnings per share for the current fiscal year.

In other news, Director John S. Montalbano acquired 6,000 shares of the firm’s stock in a transaction on Monday, August 16th. The stock was acquired at an average price of $17.23 per share, with a total value of $103,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael R. Hayden sold 100,000 shares of AbCellera Biologics stock in a transaction that occurred on Tuesday, June 22nd. The shares were sold at an average price of $25.50, for a total transaction of $2,550,000.00. The disclosure for this sale can be found here. 45.80% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Evoke Wealth LLC purchased a new position in AbCellera Biologics during the first quarter valued at approximately $27,000. Eagle Bay Advisors LLC purchased a new position in AbCellera Biologics during the second quarter valued at approximately $40,000. Lumina Fund Management LLC purchased a new position in AbCellera Biologics during the first quarter valued at approximately $102,000. UBS Group AG increased its holdings in AbCellera Biologics by 38,262.5% during the first quarter. UBS Group AG now owns 3,069 shares of the company’s stock valued at $104,000 after buying an additional 3,061 shares during the period. Finally, Advisor Group Holdings Inc. increased its holdings in AbCellera Biologics by 33.4% during the second quarter. Advisor Group Holdings Inc. now owns 6,097 shares of the company’s stock valued at $133,000 after buying an additional 1,526 shares during the period. 32.15% of the stock is owned by hedge funds and other institutional investors.

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.

Read More: Average Daily Trade Volume – ADTV

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