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John S. Montalbano, a director at AbCellera Biologics Inc. (NASDAQ:ABCL), recently acquired 60,000 common shares of the company. The shares were purchased at $2.3428 per share, amounting to a total investment of $140,568 - notably near the stock’s 52-week low of $2.20. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $4 to $28. Following this transaction, Montalbano holds 146,000 shares directly. Additionally, 5,000 shares are held indirectly by his spouse.
This acquisition signifies a notable increase in Montalbano’s stake in the Vancouver-based biotech firm, which specializes in pharmaceutical preparations. While the company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 9.81, investors often watch insider transactions like these for potential insights into a company’s future performance. InvestingPro subscribers can access detailed insider trading analysis along with 10+ additional ProTips for comprehensive investment decision-making.
In other recent news, AbCellera Biologics reported its fourth-quarter financial results for 2024, revealing a decline in revenue to $5.1 million, which was significantly below the forecast of $7.58 million. The company also reported a net loss of $0.12 per share for the quarter, contributing to a full-year net loss of $0.55 per share. For the entire year, AbCellera’s revenue decreased to $28.8 million from $38.0 million in the previous year. Despite these financial challenges, AbCellera announced new partnerships, including one with AbbVie (NYSE:ABBV) on a T-cell engager platform, and is focusing on its transition to a clinical-stage biotechnology company. Benchmark analysts maintained their Hold rating on the company’s stock, reflecting a cautious outlook amid these developments. The company has emphasized its strategic shift towards internal program development and is reducing new discovery partnership activities. AbCellera’s strong cash position, with over $650 million in cash and equivalents, supports its ongoing transition and future pipeline investments.
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