AbCellera Biologics Inc. (NASDAQ:ABCL) COO Veronique Lecault Sells 1,000,000 Shares of Stock

AbCellera Biologics Inc. (NASDAQ:ABCL) COO Veronique Lecault sold 1,000,000 shares of the company’s stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $25.50, for a total value of $25,500,000.00. Following the transaction, the chief operating officer now directly owns 1,006,000 shares in the company, valued at $25,653,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ ABCL opened at $24.84 on Friday. The firm has a 50 day moving average price of $28.99. The stock has a market capitalization of $6.73 billion and a price-to-earnings ratio of 55.20. AbCellera Biologics Inc. has a 52 week low of $23.20 and a 52 week high of $71.91.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Wednesday, May 12th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $202.74 million for the quarter, compared to analyst estimates of $199.43 million. On average, equities analysts anticipate that AbCellera Biologics Inc. will post 0.44 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of ABCL. SB Management Ltd boosted its holdings in AbCellera Biologics by 15.5% in the first quarter. SB Management Ltd now owns 7,817,190 shares of the company’s stock valued at $265,472,000 after purchasing an additional 1,050,000 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of AbCellera Biologics in the 1st quarter valued at about $532,000. Paloma Partners Management Co purchased a new stake in shares of AbCellera Biologics in the first quarter worth about $903,000. Canada Pension Plan Investment Board acquired a new stake in AbCellera Biologics during the first quarter worth about $4,245,000. Finally, Morgan Stanley grew its holdings in AbCellera Biologics by 2,353.1% during the first quarter. Morgan Stanley now owns 72,365 shares of the company’s stock worth $2,458,000 after acquiring an additional 69,415 shares during the period. Institutional investors own 26.09% of the company’s stock.

Several research analysts recently weighed in on ABCL shares. Credit Suisse Group dropped their target price on AbCellera Biologics from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, May 14th. SVB Leerink dropped their price target on AbCellera Biologics from $52.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 30th. Stifel Nicolaus decreased their price objective on shares of AbCellera Biologics from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, March 30th. Zacks Investment Research cut shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Friday, April 2nd. Finally, BMO Capital Markets cut their price target on shares of AbCellera Biologics from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 24th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. AbCellera Biologics presently has a consensus rating of “Buy” and an average 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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