AbCellera Biologics Inc. (NASDAQ:ABCL) Short Interest Update

AbCellera Biologics Inc. (NASDAQ:ABCL – Get Rating) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 22,170,000 shares, an increase of 9.0% from the February 13th total of 20,340,000 shares. Currently, 11.3% of the shares of the stock are sold short. Based on an average daily volume of 1,840,000 shares, the days-to-cover ratio is currently 12.0 days.

Analysts Set New Price Targets

Several research analysts recently issued reports on ABCL shares. Truist Financial began coverage on shares of AbCellera Biologics in a research report on Wednesday, November 16th. They issued a “buy” rating and a $29.00 target price for the company. Cowen began coverage on shares of AbCellera Biologics in a research report on Tuesday, February 28th. They set an “outperform” rating for the company. Cowen began coverage on shares of AbCellera Biologics in a research report on Tuesday, February 28th. They set an “outperform” rating for the company. The Goldman Sachs Group began coverage on shares of AbCellera Biologics in a research report on Thursday, December 15th. They set a “buy” rating and a $30.00 price target for the company. Finally, BMO Capital Markets cut their price target on shares of AbCellera Biologics from $40.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, February 22nd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AbCellera Biologics presently has a consensus rating of “Buy” and a consensus price target of $27.33.

Insider Transactions at AbCellera Biologics

In related news, major shareholder Holdings Ltd. Thermopylae bought 85,102 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The stock was bought at an average cost of $10.10 per share, for a total transaction of $859,530.20. Following the completion of the transaction, the insider now owns 55,859,493 shares of the company’s stock, valued at $564,180,879.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 30.30% of the company’s stock.

Hedge Funds Weigh In On AbCellera Biologics

A number of institutional investors have recently bought and sold shares of ABCL. Advisor Group Holdings Inc. raised its stake in AbCellera Biologics by 51.7% in the first quarter. Advisor Group Holdings Inc. now owns 40,699 shares of the company’s stock worth $397,000 after buying an additional 13,877 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of AbCellera Biologics by 83.9% during the first quarter. JPMorgan Chase & Co. now owns 150,882 shares of the company’s stock valued at $1,471,000 after purchasing an additional 68,844 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of AbCellera Biologics during the first quarter valued at approximately $283,000. BlackRock Inc. increased its stake in shares of AbCellera Biologics by 3.4% during the first quarter. BlackRock Inc. now owns 2,447,299 shares of the company’s stock valued at $23,861,000 after purchasing an additional 80,057 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of AbCellera Biologics by 55.6% during the first quarter. Federated Hermes Inc. now owns 1,288,000 shares of the company’s stock valued at $12,558,000 after purchasing an additional 460,153 shares in the last quarter. 42.19% of the stock is owned by institutional investors.

AbCellera Biologics Trading Up 2.0 %

Shares of NASDAQ:ABCL opened at $7.57 on Wednesday. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 15.14 and a beta of -0.09. The company has a 50-day moving average price of $9.53 and a 200-day moving average price of $10.62. AbCellera Biologics has a 12 month low of $5.42 and a 12 month high of $14.97.

AbCellera Biologics (NASDAQ:ABCL – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.11). AbCellera Biologics had a net margin of 32.66% and a return on equity of 12.93%. The firm had revenue of $21.50 million for the quarter, compared to the consensus estimate of $50.80 million. During the same period last year, the company posted $0.19 earnings per share. The business’s revenue was down 84.6% on a year-over-year basis. As a group, research analysts forecast that AbCellera Biologics will post -0.61 EPS for the current fiscal year.

About AbCellera Biologics

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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.