Understanding the Risks of Investing in AbCellera Biologics Inc. (ABCL)


In a filing, AbCellera Biologics Inc. revealed its 10% Owner Thermopylae Holdings Ltd. acquired Company’s shares for reported $1.0 million on May 26. In the deal valued at $6.52 per share,153,000 shares were bought. As a result of this transaction, Thermopylae Holdings Ltd. now holds 56,012,493 shares worth roughly $ 308.63 million.

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Then, Booth Andrew bought 14,500 shares, generating $99,325 in total proceeds. Upon buying the shares at $6.85, the Chief Financial Officer now owns 153,000 shares.

Before that, Thermopylae Holdings Ltd. bought 85,102 shares. AbCellera Biologics Inc. shares valued at $859,249 were divested by the 10% Owner at a price of $10.10 per share. As a result of the transaction, Thermopylae Holdings Ltd. now holds 55,859,493 shares, worth roughly $307.79 million.

Cowen initiated its AbCellera Biologics Inc. [ABCL] rating to an Outperform in a research note published on Friday.

Price Performance Review of ABCL

On Friday, AbCellera Biologics Inc. [NASDAQ:ABCL] saw its stock jump 0.18% to $5.51. On the same session, the stock had its day’s lowest price of $5.395, but rose to a high of $5.59. Over the last five days, the stock has gained 0.36%. AbCellera Biologics Inc. shares have fallen nearly -45.61% since the year began. Nevertheless, the stocks have fallen -53.50% over the past one year. While a 52-week high of $14.97 was reached on 02/03/23, a 52-week low of $5.37 was recorded on 08/22/23. SMA at 50 days reached $6.71, while 200 days put it at $8.43. A total of 1.32 million shares were traded, compared to the trading of 1.18 million shares in the previous session.

Levels Of Support And Resistance For ABCL Stock

The 24-hour chart illustrates a support level at 5.41, which if violated will result in even more drops to 5.30. On the upside, there is a resistance level at 5.60. A further resistance level may holdings at 5.69. The Relative Strength Index (RSI) on the 14-day chart is 31.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.82%. Stochastics %K at 13.64% indicates the stock is a buying.

How much short interest is there in AbCellera Biologics Inc.?

A steep rise in short interest was recorded in AbCellera Biologics Inc. stocks on Aug 14, 2023, growing by 2.38 million shares to a total of 27.55 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 25.17 million shares. There was a rise of 8.64%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 13.27% of the overall stock float, the days-to-cover ratio (short ratio) rose to 12.55.

AbCellera Biologics Inc. [ABCL] – Who Are The Largest Shareholders?

In filings from Baillie Gifford & Co., it is revealed that the company now owns 26,364,751 shares, or roughly 9.13% of the outstanding ABCL shares. In other words, the investor’s shares have risen by 6,535,100 from its previous 13-F filing of 19829651.0. Additionally, Baker Bros. Advisors LP increased 57.42% of its stake after which the total value it holdings stand at $127,159,891, while Voya Investment Management Co. LL reduced -1.97% of its stake to hold $82.12 million in the firm. Over the last quarter, Capital Research & Management Co sold -907,000 shares of AbCellera Biologics Inc., while Credit Suisse Asset Management sold -6,594 shares. At present, ArrowMark Colorado Holdings LLC is holding 4,105,095 shares valued at $31.73 million. Lazard Asset Management LLC owned 3,275,301 shares of the company at the time of its most recent 13F filing, worth $25.32 million.

According to FactSet, AbCellera Biologics Inc.’s share price will average $25.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 336.36 percent from its previous closing price of $5.50. Analysts expect AbCellera Biologics Inc. stock to reach the higher price of $34.00, while the lowest price estimate is $13.00. However, 8 analysts have rated ABCL stock as a Buy in their predictions for 2023.


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