AbCellera Biologics Inc. (NASDAQ:ABCL) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 14.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 954,623 shares of the company’s stock after selling 158,293 shares during the quarter. American Century Companies Inc. owned about 0.33% of AbCellera Biologics worth $4,391,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ABCL. GSA Capital Partners LLP grew its position in AbCellera Biologics by 1,268.1% in the third quarter. GSA Capital Partners LLP now owns 146,190 shares of the company’s stock worth $672,000 after buying an additional 135,504 shares during the last quarter. Trexquant Investment LP grew its position in AbCellera Biologics by 458.5% in the third quarter. Trexquant Investment LP now owns 272,158 shares of the company’s stock worth $1,252,000 after buying an additional 223,430 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in AbCellera Biologics by 143.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 358,400 shares of the company’s stock worth $1,649,000 after buying an additional 211,000 shares during the last quarter. Graham Capital Management L.P. grew its position in AbCellera Biologics by 149.4% in the third quarter. Graham Capital Management L.P. now owns 180,389 shares of the company’s stock worth $830,000 after buying an additional 108,060 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in AbCellera Biologics by 28.2% in the third quarter. Principal Financial Group Inc. now owns 92,971 shares of the company’s stock worth $428,000 after buying an additional 20,450 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Stifel Nicolaus decreased their price target on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Thursday, February 22nd. Finally, KeyCorp began coverage on shares of AbCellera Biologics in a research report on Tuesday, December 5th. They issued an “overweight” rating and a $6.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AbCellera Biologics has a consensus rating of “Buy” and an average price target of $15.86.

AbCellera Biologics Stock Performance

NASDAQ ABCL opened at $4.49 on Thursday. AbCellera Biologics Inc. has a twelve month low of $3.87 and a twelve month high of $8.05. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -8.63 and a beta of 0.38. The firm’s 50 day moving average price is $5.01 and its two-hundred day moving average price is $4.90.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 12.36% and a negative net margin of 384.99%. The firm had revenue of $9.18 million for the quarter, compared to analysts’ expectations of $9.58 million. On average, research analysts forecast that AbCellera Biologics Inc. will post -0.64 EPS for the current fiscal year.

About AbCellera Biologics

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company had discovery programs that are either completed, in progress, or under contract with partners. It has a research collaboration and license agreement with Eli Lilly and Company; and a research collaboration with Confo Therapeutics for the discovery of therapeutic antibody candidates targeting two undisclosed GPCR targets.