Stock Traders Purchase High Volume of Call Options on AbCellera Biologics (NASDAQ:ABCL)

AbCellera Biologics Inc. (NASDAQ:ABCL) was the target of unusually large options trading activity on Monday. Traders bought 9,236 call options on the company. This represents an increase of 93% compared to the average daily volume of 4,779 call options.

AbCellera Biologics Price Performance

Shares of NASDAQ ABCL opened at $7.65 on Wednesday. The company has a 50-day moving average price of $5.23 and a 200-day moving average price of $4.17. The stock has a market capitalization of $2.34 billion, a P/E ratio of -15.88 and a beta of 1.18. AbCellera Biologics has a 1 year low of $2.74 and a 1 year high of $8.42.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. 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 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Monday, April 20th. Wall Street Zen lowered AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, JonesTrading assumed coverage on AbCellera Biologics in a research note on Friday, April 10th. They issued a “buy” rating and a $11.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of AbCellera Biologics by 13.9% during the first quarter. Bank of America Corp DE now owns 2,999,936 shares of the company’s stock valued at $10,470,000 after buying an additional 367,064 shares during the last quarter. Royal Bank of Canada grew its holdings in AbCellera Biologics by 5.6% during the first quarter. Royal Bank of Canada now owns 394,753 shares of the company’s stock worth $1,378,000 after buying an additional 20,897 shares in the last quarter. SEB Asset Management AB purchased a new stake in AbCellera Biologics in the 1st quarter valued at $1,188,000. Hsbc Holdings PLC raised its position in AbCellera Biologics by 22.6% in the 1st quarter. Hsbc Holdings PLC now owns 143,472 shares of the company’s stock valued at $499,000 after buying an additional 26,441 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in AbCellera Biologics during the 1st quarter valued at $46,000. Institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

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.