Allspring Global Investments Holdings LLC Acquires Shares of 116,434 AbCellera Biologics Inc. (NASDAQ:ABCL)

Allspring Global Investments Holdings LLC purchased a new position in AbCellera Biologics Inc. (NASDAQ:ABCLGet Rating) during the 3rd quarter, HoldingsChannel reports. The fund purchased 116,434 shares of the company’s stock, valued at approximately $1,151,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. acquired a new stake in shares of AbCellera Biologics during the third quarter valued at about $26,000. National Bank of Canada FI increased its position in shares of AbCellera Biologics by 69.3% during the third quarter. National Bank of Canada FI now owns 2,700 shares of the company’s stock valued at $27,000 after acquiring an additional 1,105 shares during the last quarter. Worth Asset Management LLC acquired a new stake in shares of AbCellera Biologics during the first quarter valued at about $25,000. Banque Cantonale Vaudoise acquired a new position in shares of AbCellera Biologics in the second quarter valued at approximately $67,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of AbCellera Biologics in the second quarter valued at approximately $85,000. 42.19% of the stock is owned by hedge funds and other institutional investors.

AbCellera Biologics Price Performance

ABCL stock opened at $10.34 on Friday. The company has a fifty day moving average price of $11.29 and a 200 day moving average price of $11.14. AbCellera Biologics Inc. has a 12 month low of $5.42 and a 12 month high of $14.97. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 13.09 and a beta of -0.23.

AbCellera Biologics (NASDAQ:ABCLGet Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $101.38 million during the quarter, compared to analyst estimates of $77.19 million. AbCellera Biologics had a net margin of 41.17% and a return on equity of 21.15%. As a group, analysts anticipate that AbCellera Biologics Inc. will post 0.62 earnings per share for the current year.

Insider Buying and Selling at AbCellera Biologics

In other news, major shareholder Holdings Ltd. Thermopylae acquired 85,102 shares of the company’s stock in a transaction on Friday, December 16th. The shares were bought at an average cost of $10.10 per share, with a total value of $859,530.20. Following the purchase, the insider now owns 55,859,493 shares of the company’s stock, valued at approximately $564,180,879.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 30.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ABCL shares. SVB Leerink dropped their price objective on shares of AbCellera Biologics from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 6th. The Goldman Sachs Group started coverage on shares of AbCellera Biologics in a report on Thursday, December 15th. They issued a “buy” rating and a $30.00 price objective for the company. Truist Financial initiated coverage on shares of AbCellera Biologics in a report on Wednesday, November 16th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Piper Sandler lowered their price target on shares of AbCellera Biologics from $22.00 to $21.00 in a report on Tuesday, November 1st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $28.67.

About AbCellera Biologics

(Get Rating)

AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, artificial intelligence-powered antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed as drugs. As of December 31, 2021, the company had 156 discovery programs that are either completed, in progress, or under contract with 36 partners.

Further Reading

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Institutional Ownership by Quarter for AbCellera Biologics (NASDAQ:ABCL)

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