AbCellera Biologics (NASDAQ:ABCL) Given New $5.00 Price Target at KeyCorp

AbCellera Biologics (NASDAQ:ABCL) had its price objective hoisted by KeyCorp from $4.00 to $5.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on ABCL. Stifel Nicolaus decreased their target price on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a research report on Monday, March 3rd.

AbCellera Biologics Trading Down 1.6 %

NASDAQ ABCL opened at $2.39 on Wednesday. AbCellera Biologics has a 12 month low of $1.89 and a 12 month high of $4.34. The firm has a market capitalization of $712.19 million, a PE ratio of -3.92 and a beta of 0.50. The business’s 50-day moving average price is $2.53 and its two-hundred day moving average price is $2.77.

Hedge Funds Weigh In On AbCellera Biologics

Several institutional investors have recently added to or reduced their stakes in the business. Capital World Investors bought a new stake in shares of AbCellera Biologics in the 4th quarter valued at $23,245,000. Two Sigma Investments LP grew its holdings in AbCellera Biologics by 28.6% in the fourth quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company’s stock worth $9,544,000 after purchasing an additional 723,676 shares during the period. Two Sigma Advisers LP increased its stake in AbCellera Biologics by 19.8% in the fourth quarter. Two Sigma Advisers LP now owns 2,608,400 shares of the company’s stock valued at $7,643,000 after purchasing an additional 430,800 shares in the last quarter. Tang Capital Management LLC raised its holdings in shares of AbCellera Biologics by 12.3% during the fourth quarter. Tang Capital Management LLC now owns 2,582,816 shares of the company’s stock valued at $7,568,000 after purchasing an additional 282,816 shares during the period. Finally, Guardian Partners Inc. bought a new position in shares of AbCellera Biologics during the 4th quarter worth about $5,413,000. 61.42% of the stock is owned by institutional investors and hedge funds.

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’s preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.