Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) fell 5.1% during mid-day trading on Monday . The company traded as low as $17.91 and last traded at $18.03. 11,200 shares changed hands during trading, a decline of 99% from the average session volume of 1,458,028 shares. The stock had previously closed at $18.99.
A number of analysts have recently weighed in on ABCL shares. Credit Suisse Group dropped their target price on AbCellera Biologics from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 13th. Berenberg Bank restated a “buy” rating on shares of AbCellera Biologics in a report on Monday, June 28th. Zacks Investment Research cut shares of AbCellera Biologics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 18th. Finally, SVB Leerink restated a “buy” rating on shares of AbCellera Biologics in a research note on Sunday, August 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $46.83.
The firm’s 50 day simple moving average is $16.88 and its 200 day simple moving average is $24.23. The firm has a market capitalization of $4.89 billion and a price-to-earnings ratio of 39.02.
In other news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Hamer sold 162,649 shares of the firm’s 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 disclosure for this sale can be found here. 45.80% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Evoke Wealth LLC acquired a new position in AbCellera Biologics during the first quarter worth $27,000. Advisor Group Holdings Inc. lifted its holdings in AbCellera Biologics by 33.4% during the 2nd quarter. Advisor Group Holdings Inc. now owns 6,097 shares of the company’s stock worth $133,000 after buying an additional 1,526 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of AbCellera Biologics in the second quarter valued at $40,000. Lumina Fund Management LLC purchased a new stake in AbCellera Biologics during the 1st quarter worth about $102,000. Finally, UBS Group AG boosted its stake in shares of AbCellera Biologics by 38,262.5% in the 1st 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. 32.15% of the stock is currently 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.
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