AbCellera Biologics Inc. (NASDAQ:ABCL) CEO Carl L. G. Hansen Sells 6,000,000 Shares

AbCellera Biologics Inc. (NASDAQ:ABCL) CEO Carl L. G. Hansen sold 6,000,000 shares of the stock in a transaction on Wednesday, June 9th. The shares were sold at an average price of $24.13, for a total transaction of $144,780,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of NASDAQ:ABCL opened at $24.84 on Friday. The stock has a 50 day moving average of $28.99. The firm has a market cap of $6.73 billion and a price-to-earnings ratio of 55.20. AbCellera Biologics Inc. has a twelve month low of $23.20 and a twelve month high of $71.91.

AbCellera Biologics (NASDAQ:ABCL) last issued its 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 company had revenue of $202.74 million during the quarter, compared to analyst estimates of $199.43 million. On average, sell-side analysts expect that AbCellera Biologics Inc. will post 0.44 earnings per share for the current year.

A number of equities research analysts have recently issued reports on ABCL shares. Stifel Nicolaus cut their target price 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. BMO Capital Markets reduced their target price on AbCellera Biologics from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, March 24th. Zacks Investment Research lowered AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Friday, April 2nd. Berenberg Bank reissued a “buy” rating and set a $53.00 price target on shares of AbCellera Biologics in a research report on Tuesday, March 30th. 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 stock. The stock has a consensus rating of “Buy” and a consensus price target of $52.60.

Institutional investors have recently added to or reduced their stakes in the company. Evoke Wealth LLC purchased a new stake in shares of AbCellera Biologics in the 1st quarter valued at approximately $27,000. Lumina Fund Management LLC acquired a new stake in AbCellera Biologics during the 1st quarter valued at $102,000. UBS Group AG lifted its holdings in shares of AbCellera Biologics by 38,262.5% in the first quarter. UBS Group AG now owns 3,069 shares of the company’s stock valued at $104,000 after purchasing an additional 3,061 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of AbCellera Biologics in the fourth quarter worth $212,000. Finally, Stifel Financial Corp purchased a new position in shares of AbCellera Biologics during the first quarter valued at $247,000. 26.09% of the stock is currently owned by institutional investors and hedge funds.

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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