AbCellera Biologics Target of Unusually High Options Trading (NASDAQ:ABCL)

AbCellera Biologics Inc. (NASDAQ:ABCL) saw unusually large options trading activity on Friday. Investors acquired 11,446 call options on the company. This is an increase of 397% compared to the average daily volume of 2,303 call options.

A number of equities research analysts have issued reports on the stock. Berenberg Bank reiterated a “buy” rating on shares of AbCellera Biologics in a research note on Monday, June 28th. Zacks Investment Research downgraded shares of AbCellera Biologics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 18th. SVB Leerink restated a “buy” rating on shares of AbCellera Biologics in a research report on Sunday, August 15th. Finally, Credit Suisse Group decreased their target price on AbCellera Biologics from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $46.83.

AbCellera Biologics stock traded up $0.37 during trading hours on Friday, reaching $20.17. The company had a trading volume of 199,956 shares, compared to its average volume of 1,529,947. The firm has a market cap of $5.62 billion and a price-to-earnings ratio of 45.18. The company has a 50-day moving average price of $16.89 and a 200 day moving average price of $23.96. AbCellera Biologics has a 12-month low of $14.51 and a 12-month high of $71.91.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Wednesday, August 11th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.05). Analysts anticipate that AbCellera Biologics will post 0.31 earnings per share for the current year.

In other news, Director John Hamer sold 162,649 shares of the stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $16.95, for a total transaction of $2,756,900.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael R. Hayden sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 22nd. The stock was 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. Insiders own 45.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Evoke Wealth LLC bought a new position in shares of AbCellera Biologics during the first quarter valued at $27,000. Eagle Bay Advisors LLC bought a new position in AbCellera Biologics in the 2nd quarter worth about $40,000. Lumina Fund Management LLC purchased a new stake in AbCellera Biologics during the 1st quarter valued at about $102,000. UBS Group AG increased its stake in AbCellera Biologics by 38,262.5% during the 1st quarter. UBS Group AG now owns 3,069 shares of the company’s stock valued at $104,000 after purchasing an additional 3,061 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in AbCellera Biologics in the second quarter worth about $133,000. 32.15% of the stock is owned by institutional investors and hedge funds.

About AbCellera Biologics

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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