AbCellera Biologics (NASDAQ:ABCL) Major Shareholder Holdings Ltd. Thermopylae Acquires 60,565 Shares of Stock

AbCellera Biologics Inc. (NASDAQ:ABCL) major shareholder Holdings Ltd. Thermopylae bought 60,565 shares of the company’s stock in a transaction that occurred on Thursday, November 12th. The stock was purchased at an average cost of $11.54 per share, for a total transaction of $698,920.10. Following the transaction, the insider owned 56,194,662 shares in the company, valued at $648,486,399.48. The trade was a 0.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

AbCellera Biologics Stock Performance

NASDAQ ABCL opened at $11.62 on Friday. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -24.21 and a beta of 1.59. The stock’s 50 day moving average price is $12.34 and its two-hundred day moving average price is $7.19. AbCellera Biologics Inc. has a 52 week low of $2.74 and a 52 week high of $15.02.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.04. AbCellera Biologics had a negative net margin of 218.54% and a negative return on equity of 15.35%. The company had revenue of $10.64 million during the quarter, compared to analysts’ expectations of $8.42 million. During the same period last year, the business earned ($0.19) EPS. On average, equities research analysts forecast that AbCellera Biologics Inc. will post -0.65 EPS for the current year.

Hedge Funds Weigh In On AbCellera Biologics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC bought a new position in AbCellera Biologics in the 3rd quarter valued at about $2,743,000. Cibc World Market Inc. lifted its position in AbCellera Biologics by 34.9% during the third quarter. Cibc World Market Inc. now owns 23,261 shares of the company’s stock worth $339,000 after acquiring an additional 6,015 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of AbCellera Biologics by 24.7% during the third quarter. HighTower Advisors LLC now owns 134,631 shares of the company’s stock worth $1,964,000 after acquiring an additional 26,698 shares during the period. Bessemer Group Inc. bought a new stake in shares of AbCellera Biologics during the third quarter worth approximately $380,000. Finally, Allworth Financial LP boosted its holdings in shares of AbCellera Biologics by 35.3% during the third quarter. Allworth Financial LP now owns 15,748 shares of the company’s stock worth $230,000 after acquiring an additional 4,105 shares during the period. 61.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on ABCL. StoneX increased their target price on shares of AbCellera Biologics from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus lifted their price target on shares of AbCellera Biologics from $9.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen raised shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Jefferies Financial Group assumed coverage on shares of AbCellera Biologics in a research note on Friday, October 30th. They set a “buy” rating and a $21.00 price objective for the company. Finally, The Goldman Sachs Group began coverage on shares of AbCellera Biologics in a research note on Thursday, September 24th. They set a “neutral” rating and a $13.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.20.

About AbCellera Biologics

AbCellera Biologics Inc. is a biotechnology company headquartered in Vancouver, Canada. It discovers and develops antibody-based medicines, using laboratory and computational tools to identify and optimize antibodies that may be developed into treatments for disease. The company works with pharmaceutical and biotechnology partners on antibody discovery and drug development, while also advancing a portfolio of its own therapeutic candidates. Its work spans early-stage research through preclinical and clinical development, with programs focused on areas including cancer and immune-related diseases.