Shares of AbCellera Biologics Inc. (NASDAQ:ABCL – Get Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $11.08, but opened at $11.40. AbCellera Biologics shares last traded at $10.80, with a volume of 7,461 shares trading hands.
Wall Street Analysts Forecast Growth
ABCL has been the subject of several analyst reports. Credit Suisse Group decreased their target price on shares of AbCellera Biologics from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday, August 10th. Piper Sandler upped their target price on shares of AbCellera Biologics from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, July 26th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $28.60.
AbCellera Biologics Trading Up 0.9 %
The stock has a market capitalization of $3.09 billion, a P/E ratio of 17.21 and a beta of -1.18. The stock’s 50 day simple moving average is $11.24 and its 200 day simple moving average is $9.57.
Insider Transactions at AbCellera Biologics
In other AbCellera Biologics news, major shareholder Holdings Ltd. Thermopylae purchased 200,000 shares of AbCellera Biologics stock in a transaction dated Friday, August 19th. The shares were bought at an average cost of $11.46 per share, for a total transaction of $2,292,000.00. Following the transaction, the insider now owns 55,844,391 shares in the company, valued at approximately $639,976,720.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 30.30% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Amundi bought a new position in shares of AbCellera Biologics in the 2nd quarter worth about $265,000. Legal & General Group Plc acquired a new stake in shares of AbCellera Biologics in the 2nd quarter worth about $267,000. ExodusPoint Capital Management LP increased its holdings in shares of AbCellera Biologics by 103.7% in the 2nd quarter. ExodusPoint Capital Management LP now owns 262,503 shares of the company’s stock worth $2,796,000 after acquiring an additional 133,652 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of AbCellera Biologics by 108.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 234,487 shares of the company’s stock worth $2,497,000 after acquiring an additional 121,762 shares during the period. Finally, Advisory Research Inc. acquired a new stake in shares of AbCellera Biologics in the 2nd quarter worth about $851,000. 44.42% of the stock is currently owned by institutional investors.
About AbCellera Biologics
AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, artificial intelligence-powered antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed as drugs. As of December 31, 2021, the company had 156 discovery programs that are either completed, in progress, or under contract with 36 partners.
- Get a free copy of the StockNews.com research report on AbCellera Biologics (ABCL)
- Is This Medical Gear Maker Ready To Continue Its Rally?
- The Five (5) Hottest Stocks To Watch Ahead Of Q3 Earnings
- Has Take-Two Interactive Devolved into a One-Trick Pony?
- Can Health Drink Maker Celsius Outrun Its Monster Rival?
- Four Cheap Stocks With Interesting Insider Activity
Receive News & Ratings for AbCellera Biologics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbCellera Biologics and related companies with MarketBeat.com's FREE daily email newsletter.