Buying Buzz: AbCellera Biologics Inc. [ABCL] 10% Owner Thermopylae Holdings Ltd. acquires 200,000 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. AbCellera Biologics Inc. shares valued at $2,292,460 were purchased by Thermopylae Holdings Ltd. on Aug 19. At $11.46 per share, Thermopylae Holdings Ltd. acquired 200,000 shares. The insider’s holdings grew to 55,844,391 shares worth approximately $571.29 million following the completion of this transaction.

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Also, Thermopylae Holdings Ltd. purchased 9,173 shares, netting a total of over 73,842 in proceeds. Following the buying of shares at $8.05 each, the insider now holds 55,644,391 shares.

Before that, Thermopylae Holdings Ltd. had added 54,915 shares to its account. In a trade valued at $441,066, the 10% Owner bought AbCellera Biologics Inc. shares for $8.03 each. Upon closing the transaction, the insider’s holdings increased to 54,915 shares, worth approximately $569.15 million.

As published in their initiating research note from The Benchmark Company on December 21, 2021, AbCellera Biologics Inc. [ABCL] has been a Buy and the price target has been revised to $27. This represents a 62.11% premium over Wednesday’s closing price. Analysts at Piper Sandler started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid November. As of January 05, 2021, SVB Leerink has initiated its “an Outperform” rating for ABCL. Earlier on January 05, 2021, Stifel initiated its rating. Their recommendation was “a Buy” for ABCL stock.

Analyzing ABCL’s Price Performance

On Wednesday, AbCellera Biologics Inc. [NASDAQ: ABCL] plunged -0.58% to $10.23. The stock’s lowest price that day was $10.01, but it reached a high of $10.58 in the same session. During the last five days, there has been a drop of approximately -5.63%. Over the course of the year, AbCellera Biologics Inc. shares have dropped approximately -28.46%. Shares of the company reached a 52-week high of $14.79 on 01/03/22 and a 52-week low of $5.42 on 05/12/22. A 50-day SMA is recorded $11.16, while a 200-day SMA reached $10.09. Nevertheless, trading volume fell to 1.44 million shares from 0.91 million shares the previous day.

Support And Resistance Levels for AbCellera Biologics Inc. (ABCL)

According to the 24-hour chart, there is a support level at 9.97, which, if violated, would cause prices to drop to 9.70. In the upper region, resistance lies at 10.54. The next price resistance is at 10.84. RSI (Relative Strength Index) is 40.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.44, which suggests the price will decrease in the coming days. Percent R is at 75.71%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is AbCellera Biologics Inc. subject to short interest?

Stocks of AbCellera Biologics Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 6.96 million shares to 19.23 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 12.27 million shares. A jump of 36.19% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.07 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.07.

Which companies own the most shares of AbCellera Biologics Inc. (ABCL)?

According to Baillie Gifford & Co. filings, the company currently owns 13,354,715 shares, which is about 4.68% of the total ABCL shares outstanding. The investor’s shares have appreciated by 2,305,950 from its previous 13-F filing of 11048765.0 shares. With the completion of the sale transaction, Capital Research & Management Co’s stake is now worth $139,249,653. Allianz Global Investors U.S. LLC reduced a -2.94% interest valued at $115.58 million while Baker Bros. Advisors LP 0 stake. In its current portfolio, Harvard Management Co., Inc. holds 4,105,095 shares valued at $43.84 million.

In terms of AbCellera Biologics Inc. share price expectations, FactSet research, analysts set an average price target of $29.63 in the next 12 months, up nearly 210.98% from the previous closing price of $10.29. Analysts anticipate AbCellera Biologics Inc. stock to reach $43.00 by 2022, with the lowest price target being $14.00. In spite of this, 8 analysts ranked AbCellera Biologics Inc. stock as a Buy at the end of 2022. On January 05, 2021, Credit Suisse assigned a price target of “an Outperform” to the stock and initiated coverage with a $52.


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