AbCellera Biologics Sees Unusually Large Options Volume (NASDAQ:ABCL)

AbCellera Biologics Inc. (NASDAQ:ABCL) was the recipient of unusually large options trading on Monday. Stock traders bought 9,236 call options on the stock. This represents an increase of approximately 93% compared to the average volume of 4,779 call options.

AbCellera Biologics Stock Performance

NASDAQ ABCL traded up $0.70 during trading on Monday, reaching $8.09. 11,636,630 shares of the company’s stock were exchanged, compared to its average volume of 5,681,601. AbCellera Biologics has a 1 year low of $2.74 and a 1 year high of $8.42. The company has a 50 day moving average price of $5.07 and a two-hundred day moving average price of $4.11. The stock has a market cap of $2.47 billion, a P/E ratio of -16.82 and a beta of 1.17.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.08. AbCellera Biologics had a negative net margin of 181.75% and a negative return on equity of 14.86%. The company had revenue of $8.31 million for the quarter, compared to analyst estimates of $5.41 million. During the same period in the prior year, the firm earned ($0.15) EPS. Research analysts forecast that AbCellera Biologics will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning raised its stake in AbCellera Biologics by 6.9% during 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 during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of AbCellera Biologics by 25.9% in the fourth 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 during the period. Advisory Services Network LLC grew its holdings in shares of AbCellera Biologics by 12.9% during the fourth 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 in the last quarter. Stratos Wealth Advisors LLC raised its position in AbCellera Biologics by 21.1% during the fourth 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. grew its stake in AbCellera Biologics by 17.0% during the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock valued at $96,000 after acquiring an additional 4,070 shares in the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

AbCellera Biologics Company Profile

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.