AbCellera Biologics Inc. (NASDAQ:ABCL) major shareholder Holdings Ltd. Thermopylae sold 5,598,420 shares of the stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $24.03, for a total transaction of $134,530,032.60. Following the completion of the sale, the insider now directly owns 55,604,330 shares of the company’s stock, valued at approximately $1,336,172,049.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of AbCellera Biologics stock traded up $1.00 on Thursday, reaching $24.84. The stock had a trading volume of 3,594,464 shares, compared to its average volume of 1,093,978. AbCellera Biologics Inc. has a fifty-two week low of $23.20 and a fifty-two week high of $71.91. The business has a 50-day moving average price of $29.11. The company has a market capitalization of $6.73 billion and a PE ratio of 54.31.
AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Wednesday, May 12th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. The business had revenue of $202.74 million during the quarter, compared to the consensus estimate of $199.43 million. As a group, equities analysts forecast that AbCellera Biologics Inc. will post 0.44 earnings per share for the current year.
A number of equities research analysts recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of AbCellera Biologics from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, March 24th. SVB Leerink reduced their price target on shares of AbCellera Biologics from $52.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 30th. Berenberg Bank reiterated a “buy” rating and issued a $53.00 price objective on shares of AbCellera Biologics in a research report on Tuesday, March 30th. Credit Suisse Group cut their price objective on shares of AbCellera Biologics from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, May 14th. Finally, Zacks Investment Research cut shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Friday, April 2nd. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. AbCellera Biologics presently has an average rating of “Buy” and a consensus target price of $52.60.
AbCellera Biologics Company Profile
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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