Why Did ABCL, REPL, ABNB Stocks Hit 52-Week Highs Today?

• AbCellera stock hit a three-year high after positive Phase 2 results for ABCL635 showed an 83% reduction in hot-flash frequency. 
• Replimune stock rallied after a $150 million financing to support TUDRIQEV’s launch. 
• BMO Capital lifted Airbnb’s price target to $165 from $146 after Q2 earnings. 

AbCellera (ABCL), Replimune Group (REPL) and Airbnb (ABNB) stocks reached 52-week highs Monday as investors responded to clinical progress, fresh financing and stronger-than-expected financial results.

AbCellera stock surged 34%, Replimune climbed13%, while Airbnb gained nearly 4%. 

AbCellera Stock Surges On Strong ABCL635 Results 

AbCellera stock touched over a three-year high of $10.01 after releasing encouraging Phase 2 results for ABCL635, an antibody therapy being developed for moderate-to-severe menopause-related hot flashes. The company said one 600-milligram subcutaneous dose produced an 83% reduction in symptom frequency, compared with 33% for placebo. 

Jones Research analyst Debanjana Chatterjee raised the price target for AbCellera to $25 from $13 while keeping a ‘Buy’ rating on the stock. Chatterjee believes ABCL635 could become a leading treatment in the multibillion-dollar menopause hot flashes market, especially for women who cannot use hormone replacement therapy. Jones Research now expects the drug could eventually generate as much as $2.5 billion in peak global annual sales.

On Stocktwits, retail sentiment around the stock remained in ‘extremely bullish’ territory. 

Replimune Brings Fresh Funding To Support TUDRIQEV Commercial Launch 

Replimune stock reached a new 52-week high of $14.11 after announcing a $150 million public financing. The transaction includes roughly 9.7 million common shares sold at $12.06 apiece, along with pre-funded warrants representing another 2.7 million shares. 

Replimune plans to direct the proceeds toward the commercial launch of TUDRIQEV to treat advanced cutaneous melanoma, following its accelerated FDA approval on Thursday, while continuing development of its RPx platform and RP2 program. Retail sentiment around the stock, however, remained in ‘extremely bearish’ territory. 

Airbnb Rides On Earnings Momentum

Airbnb stock surged to a four-year high of $185.99, extending its post-second-quarter (Q2) earnings rally. Revenue rose 17% year-on-year to $3.61 billion, while earnings per share came in at $1.37, above Street expectations. The company also gave a solid third-quarter revenue outlook of $4.69 billion to $4.77 billion, helped by stronger growth in nights booked despite challenges facing consumer travel. 

BMO Capital lifted its price target to $165 from $146 while maintaining a ‘Market Perform’ rating. Retail sentiment around the stock remained in ‘extremely bullish’ territory. 

So far this year, ABCL stock has surged 173%, while REPL and ABNB stocks have gained 40% and 36% respectively. 

Also See: RUM Q2 Revenue Jumps 60% — CEO Targets Quake AI’s $3B Opportunity

For updates and corrections, email newsroom[at]stocktwits[dot]com.