AbCellera Biologics (NASDAQ:ABCL – Get Free Report) had its price objective reduced by equities research analysts at The Goldman Sachs Group from $27.00 to $24.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 285.85% from the stock’s current price.
Separately, SVB Securities reduced their price target on shares of AbCellera Biologics from $16.00 to $15.00 in a research report on Friday, May 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $24.71.
Read Our Latest Stock Analysis on ABCL
AbCellera Biologics Stock Performance
AbCellera Biologics stock traded down $0.75 during mid-day trading on Friday, reaching $6.22. The company’s stock had a trading volume of 1,213,205 shares, compared to its average volume of 2,269,693. AbCellera Biologics has a 12-month low of $5.53 and a 12-month high of $14.97. The company has a market capitalization of $1.80 billion, a P/E ratio of -35.22 and a beta of -0.07. The firm’s fifty day moving average price is $7.15 and its two-hundred day moving average price is $7.74.
AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. AbCellera Biologics had a negative net margin of 27.71% and a negative return on equity of 4.09%. The business had revenue of $10.10 million during the quarter, compared to analyst estimates of $12.38 million. During the same period in the previous year, the business earned ($0.02) EPS. AbCellera Biologics’s revenue was down 78.0% compared to the same quarter last year. On average, research analysts predict that AbCellera Biologics will post -0.56 EPS for the current fiscal year.
Insider Transactions at AbCellera Biologics
In related news, major shareholder Holdings Ltd. Thermopylae acquired 153,000 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was bought at an average cost of $6.52 per share, with a total value of $997,560.00. Following the acquisition, the insider now owns 56,012,493 shares of the company’s stock, valued at approximately $365,201,454.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AbCellera Biologics news, CFO Andrew Booth purchased 14,500 shares of the stock in a transaction on Friday, May 26th. The stock was acquired at an average cost of $6.85 per share, with a total value of $99,325.00. Following the completion of the purchase, the chief financial officer now directly owns 153,000 shares of the company’s stock, valued at approximately $1,048,050. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings Ltd. Thermopylae purchased 153,000 shares of the stock in a transaction on Friday, May 26th. The stock was acquired at an average cost of $6.52 per share, with a total value of $997,560.00. Following the completion of the purchase, the insider now directly owns 56,012,493 shares of the company’s stock, valued at $365,201,454.36. The disclosure for this purchase can be found here. 32.45% of the stock is currently owned by insiders.
Institutional Trading of AbCellera Biologics
Large investors have recently modified their holdings of the business. Gladius Capital Management LP purchased a new stake in AbCellera Biologics in the 1st quarter worth approximately $26,000. Belpointe Asset Management LLC purchased a new stake in AbCellera Biologics in the 4th quarter worth approximately $34,000. Worth Asset Management LLC purchased a new stake in AbCellera Biologics in the 1st quarter worth approximately $25,000. Russell Investments Group Ltd. lifted its holdings in AbCellera Biologics by 67.9% in the 4th quarter. Russell Investments Group Ltd. now owns 8,900 shares of the company’s stock worth $90,000 after buying an additional 3,600 shares during the period. Finally, Atria Wealth Solutions Inc. purchased a new stake in AbCellera Biologics in the 2nd quarter worth approximately $107,000. 49.22% of the stock is owned by institutional investors.
AbCellera Biologics Company Profile
AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company had discovery programs that are either completed, in progress, or under contract with partners. It has a research collaboration and license agreement with Eli Lilly and Company; and a research collaboration with Confo Therapeutics for the discovery of therapeutic antibody candidates targeting two undisclosed GPCR targets.
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