AbCellera Biologics Inc. (NASDAQ:ABCL) CEO Sells $144,780,000.00 in Stock

AbCellera Biologics Inc. (NASDAQ:ABCL) CEO Carl L. G. Hansen sold 6,000,000 shares of the company’s stock in a transaction dated Wednesday, June 9th. The shares were sold at an average price of $24.13, for a total transaction of $144,780,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of AbCellera Biologics stock traded up $1.00 during trading hours on Thursday, reaching $24.84. The company’s stock had a trading volume of 3,594,464 shares, compared to its average volume of 1,093,978. The business’s 50 day moving average price is $29.11. AbCellera Biologics Inc. has a one year low of $23.20 and a one year high of $71.91. The stock has a market capitalization of $6.73 billion and a PE ratio of 54.31.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Wednesday, May 12th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.37. The business had revenue of $202.74 million during the quarter, compared to the consensus estimate of $199.43 million. Equities research analysts forecast that AbCellera Biologics Inc. will post 0.44 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on ABCL shares. Stifel Nicolaus cut their price target on shares of AbCellera Biologics from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, March 30th. Zacks Investment Research lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Friday, April 2nd. Berenberg Bank reaffirmed a “buy” rating and set a $53.00 price target on shares of AbCellera Biologics in a report on Tuesday, March 30th. Credit Suisse Group decreased their price objective on shares of AbCellera Biologics from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, May 14th. Finally, SVB Leerink decreased their price objective on shares of AbCellera Biologics from $52.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday, March 30th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $52.60.

Several institutional investors have recently bought and sold shares of ABCL. Viking Global Investors LP bought a new position in shares of AbCellera Biologics in the 4th quarter worth about $775,978,000. Baker BROS. Advisors LP bought a new stake in AbCellera Biologics in the 4th quarter valued at about $420,515,000. Orbimed Advisors LLC bought a new stake in AbCellera Biologics in the 4th quarter valued at about $338,047,000. Harvard Management Co. Inc. bought a new stake in AbCellera Biologics in the 4th quarter valued at about $165,189,000. Finally, Falcon Edge Capital LP bought a new stake in AbCellera Biologics in the 4th quarter valued at about $153,086,000. 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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