On May 26, 2023, it was reported that Thermopylae Holdings Ltd. had acquired 153,000 shares of AbCellera Biologics Inc. at a cost of $6.52 per share. The purchase was disclosed in a Form 4 filing with the SEC. As an insider of AbCellera Biologics Inc., Thermopylae Holdings Ltd. now holds a stake in the company. The insider ownership of AbCellera Biologics Inc. is based solely on the Form 3 and Form 4 SEC filings from the past 24 months. According to GuruFocus, corporate insiders have purchased shares valued at $199.0K in the last three months.
ABCL Stock Experiences Volatile Trading Day with Lower Than Average Volume: Next Earnings Report Due August 9, 2023
On May 26, 2023, ABCL stock opened at $6.92, slightly higher than its previous close of $6.91. However, the stock experienced a day’s range between $6.36 and $6.92, indicating a volatile trading day. The volume for the day was 172,443, significantly lower than the average volume of 1,875,681 over the last three months. ABCL operates in the health technology sector, specifically the biotechnology industry. The next reporting date for ABCL is August 9, 2023, with an EPS forecast of -$0.13 for this quarter. Investors will have to wait until August 9, 2023, for the next earnings report to gain a better understanding of ABCL’s financial health.
ABCL Stock Performance and Analyst Forecasts for May 26, 2023
ABCL Stock Performance on May 26, 2023: A Look at Analyst Forecasts
Abcellera Biologics Inc (ABCL) is a rapidly growing biotech company that focuses on developing antibody therapies for various diseases. The company has been in the news recently due to its promising pipeline of products and partnerships with major pharmaceutical companies. As of May 26, 2023, ABCL’s stock price was 6.83.
According to data from CNN Money, nine analysts have offered 12-month price forecasts for ABCL, with a median target of 28.00, a high estimate of 38.00, and a low estimate of 15.00. The median estimate represents a +309.96% increase from the last price of 6.83.
The current consensus among ten polled investment analysts is to buy ABCL’s stock. This rating has held steady since March, when it was unchanged from a buy rating.
ABCL is expected to report its earnings for the current quarter on August 09, 2023. The company’s earnings per share for the quarter are expected to be -$0.13, while sales are expected to be $12.4 million.
In conclusion, ABCL’s stock performance on May 26, 2023, suggests that analysts are optimistic about the company’s future prospects. The median target price of 28.00 represents a significant upside potential from the current price of 6.83, indicating that ABCL’s stock may be undervalued. However, investors should keep in mind that ABCL is still in the early stages of its growth and may experience volatility in the short term. Therefore, it is important to conduct thorough research and understand the risks before investing in ABCL’s stock.
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