Geode Capital Management LLC lowered its holdings in AbCellera Biologics Inc. (NASDAQ:ABCL – Free Report) by 63.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 113,653 shares of the company’s stock after selling 201,213 shares during the quarter. Geode Capital Management LLC’s holdings in AbCellera Biologics were worth $295,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ABCL. Citizens Financial Group Inc. RI bought a new position in shares of AbCellera Biologics in the 2nd quarter worth approximately $923,000. Renaissance Technologies LLC raised its position in shares of AbCellera Biologics by 16.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock worth $5,117,000 after acquiring an additional 239,000 shares in the last quarter. XTX Topco Ltd bought a new position in shares of AbCellera Biologics in the 2nd quarter worth approximately $99,000. Skandinaviska Enskilda Banken AB publ raised its position in shares of AbCellera Biologics by 104.9% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company’s stock worth $913,000 after acquiring an additional 158,000 shares in the last quarter. Finally, Evergreen Capital Management LLC bought a new position in shares of AbCellera Biologics in the 2nd quarter worth approximately $32,000. Institutional investors own 61.42% of the company’s stock.
Analyst Ratings Changes
ABCL has been the subject of a number of analyst reports. KeyCorp reduced their price objective on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $12.00 price objective (down previously from $14.00) on shares of AbCellera Biologics in a research report on Tuesday, November 5th. Finally, Benchmark reaffirmed a “hold” rating on shares of AbCellera Biologics in a research report on Tuesday, November 5th.
AbCellera Biologics Stock Up 2.7 %
ABCL stock opened at $3.00 on Tuesday. The firm has a market cap of $886.10 million, a PE ratio of -4.92 and a beta of 0.40. The business has a 50 day moving average of $2.90 and a 200 day moving average of $2.80. AbCellera Biologics Inc. has a twelve month low of $2.34 and a twelve month high of $5.62.
AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last posted its earnings results on Monday, November 4th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The business had revenue of $6.51 million during the quarter, compared to the consensus estimate of $8.95 million. AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. During the same period in the previous year, the business posted ($0.10) EPS. On average, research analysts expect that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.
AbCellera Biologics Profile
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’s preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.
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