AbCellera Biologics Inc. (NASDAQ:ABCL) COO Veronique Lecault Sells 1,000,000 Shares

AbCellera Biologics Inc. (NASDAQ:ABCL) COO Veronique Lecault sold 1,000,000 shares of AbCellera Biologics stock in a transaction that occurred on Wednesday, June 9th. The stock was sold at an average price of $25.50, for a total transaction of $25,500,000.00. Following the completion of the transaction, the chief operating officer now directly owns 1,006,000 shares in the company, valued at approximately $25,653,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of ABCL stock traded up $1.00 during trading on Thursday, hitting $24.84. 3,594,464 shares of the company were exchanged, compared to its average volume of 1,093,978. The company has a market capitalization of $6.73 billion and a price-to-earnings ratio of 54.31. The business’s 50-day moving average is $29.11. AbCellera Biologics Inc. has a twelve month low of $23.20 and a twelve month high of $71.91.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Wednesday, May 12th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $202.74 million for the quarter, compared to analyst estimates of $199.43 million. Research analysts predict that AbCellera Biologics Inc. will post 0.44 EPS for the current year.

Several equities analysts have recently issued reports on the stock. Credit Suisse Group lowered their price objective on shares of AbCellera Biologics from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, May 14th. BMO Capital Markets lowered their price objective on shares of AbCellera Biologics from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note 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. SVB Leerink dropped their target price 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, Berenberg Bank reissued a “buy” rating and issued a $53.00 target price on shares of AbCellera Biologics in a research report on Tuesday, March 30th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. AbCellera Biologics presently has an average rating of “Buy” and a consensus target price of $52.60.

Several hedge funds have recently bought and sold shares of the stock. SB Management Ltd boosted its holdings in shares of AbCellera Biologics by 15.5% during the first quarter. SB Management Ltd now owns 7,817,190 shares of the company’s stock worth $265,472,000 after purchasing an additional 1,050,000 shares during the period. Squarepoint Ops LLC acquired a new stake in AbCellera Biologics in the first quarter valued at approximately $532,000. Paloma Partners Management Co acquired a new stake in AbCellera Biologics in the first quarter valued at approximately $903,000. Canada Pension Plan Investment Board acquired a new stake in AbCellera Biologics in the first quarter valued at approximately $4,245,000. Finally, Morgan Stanley lifted its stake in AbCellera Biologics by 2,353.1% in the first quarter. Morgan Stanley now owns 72,365 shares of the company’s stock valued at $2,458,000 after acquiring an additional 69,415 shares during the last quarter. Institutional investors and hedge funds own 26.09% of the company’s stock.

AbCellera Biologics Company Profile

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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