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

AbCellera Biologics Inc. (NASDAQ:ABCL) saw some unusual options trading activity on Monday. Stock traders purchased 6,549 call options on the stock. This represents an increase of approximately 48% compared to the typical volume of 4,417 call options.

AbCellera Biologics Stock Down 2.9%

NASDAQ:ABCL traded down $0.17 during midday trading on Monday, reaching $5.46. The stock had a trading volume of 1,567,848 shares, compared to its average volume of 5,463,377. The stock has a market cap of $1.67 billion, a P/E ratio of -11.53 and a beta of 1.18. The firm has a fifty day simple moving average of $4.42 and a two-hundred day simple moving average of $3.89. AbCellera Biologics has a 12-month low of $2.45 and a 12-month high of $6.79.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.08. The company had revenue of $8.32 million during the quarter, compared to the consensus estimate of $5.41 million. AbCellera Biologics had a negative net margin of 181.75% and a negative return on equity of 14.86%. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, sell-side analysts anticipate that AbCellera Biologics will post -0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. Cantor Fitzgerald assumed coverage on AbCellera Biologics in a research report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a report on Monday, April 20th. JonesTrading began coverage on shares of AbCellera Biologics in a report on Friday, April 10th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, Wall Street Zen downgraded shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, AbCellera Biologics has a consensus rating of “Moderate Buy” and a consensus price target of $7.80.

Institutional Investors Weigh In On AbCellera Biologics

A number of hedge funds have recently added to or reduced their stakes in the company. Creative Planning boosted its holdings in AbCellera Biologics by 6.9% in the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock valued at $141,000 after purchasing an additional 2,656 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of AbCellera Biologics by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,546 shares of the company’s stock worth $50,000 after buying an additional 2,993 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of AbCellera Biologics by 12.9% in the 4th quarter. Advisory Services Network LLC now owns 29,664 shares of the company’s stock valued at $101,000 after buying an additional 3,386 shares during the period. Stratos Wealth Advisors LLC lifted its holdings in shares of AbCellera Biologics by 21.1% in the 4th quarter. Stratos Wealth Advisors LLC now owns 23,000 shares of the company’s stock valued at $79,000 after buying an additional 4,000 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of AbCellera Biologics by 17.0% in the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock valued at $96,000 after buying an additional 4,070 shares in the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

About AbCellera Biologics

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.