Andrew Booth Sells 1,200,000 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) Stock

AbCellera Biologics Inc. (NASDAQ:ABCL) CFO Andrew Booth sold 1,200,000 shares of the business’s stock in a transaction on Wednesday, June 9th. The shares were sold at an average price of $25.50, for a total transaction of $30,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

AbCellera Biologics stock traded up $1.00 during trading hours on Thursday, reaching $24.84. 3,594,464 shares of the company’s stock traded hands, compared to its average volume of 1,093,978. AbCellera Biologics Inc. has a fifty-two week low of $23.20 and a fifty-two week high of $71.91. The company has a market cap of $6.73 billion and a price-to-earnings ratio of 54.31. The business’s 50 day moving average price is $29.11.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Wednesday, May 12th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $202.74 million for the quarter, compared to analyst estimates of $199.43 million. As a group, sell-side analysts expect that AbCellera Biologics Inc. will post 0.44 earnings per share for the current fiscal year.

Several brokerages recently issued reports on ABCL. BMO Capital Markets reduced their price target on shares of AbCellera Biologics from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 24th. Zacks Investment Research downgraded shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Friday, April 2nd. Berenberg Bank reiterated a “buy” rating and set a $53.00 price target on shares of AbCellera Biologics in a research report on Tuesday, March 30th. SVB Leerink reduced their price target on shares of AbCellera Biologics from $52.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 30th. Finally, Credit Suisse Group reduced their price target on shares of AbCellera Biologics from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, May 14th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $52.60.

Institutional investors have recently added to or reduced their stakes in the business. Evoke Wealth LLC acquired a new position in AbCellera Biologics during the 1st quarter valued at about $27,000. Lumina Fund Management LLC bought a new stake in shares of AbCellera Biologics in the 1st quarter valued at about $102,000. UBS Group AG increased 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 acquiring an additional 3,061 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of AbCellera Biologics in the 4th quarter valued at about $212,000. Finally, Stifel Financial Corp bought a new stake in shares of AbCellera Biologics in the 1st quarter valued at about $247,000. Institutional investors own 26.09% of the company’s stock.

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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