Caitong International Asset Management Co. Ltd Purchases Shares of 10,127 AbCellera Biologics Inc. $ABCL

Caitong International Asset Management Co. Ltd purchased a new stake in AbCellera Biologics Inc. (NASDAQ:ABCL) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 10,127 shares of the company’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stratos Wealth Advisors LLC acquired a new stake in shares of AbCellera Biologics during the 1st quarter worth $27,000. Janney Montgomery Scott LLC acquired a new stake in shares of AbCellera Biologics during the 1st quarter worth $29,000. J2 Capital Management Inc acquired a new stake in shares of AbCellera Biologics during the 2nd quarter worth $45,000. Virtu Financial LLC acquired a new stake in shares of AbCellera Biologics during the 1st quarter worth $52,000. Finally, Ballentine Partners LLC acquired a new stake in shares of AbCellera Biologics during the 2nd quarter worth $81,000. 61.42% of the stock is currently owned by institutional investors and hedge funds.

AbCellera Biologics Stock Down 0.9%

ABCL opened at $5.66 on Monday. The company’s 50-day moving average price is $4.93 and its 200 day moving average price is $3.80. AbCellera Biologics Inc. has a fifty-two week low of $1.89 and a fifty-two week high of $6.51. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -10.29 and a beta of 0.69.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. AbCellera Biologics had a negative net margin of 511.88% and a negative return on equity of 16.17%. The business had revenue of $17.08 million for the quarter, compared to analyst estimates of $7.55 million. Research analysts anticipate that AbCellera Biologics Inc. will post -0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABCL has been the subject of a number of research analyst reports. Leerink Partnrs upgraded AbCellera Biologics to a “strong-buy” rating in a report on Monday, July 7th. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday. Stifel Nicolaus dropped their price objective on AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 8th. KeyCorp upped their price target on shares of AbCellera Biologics from $5.00 to $10.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Finally, Wall Street Zen raised shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, AbCellera Biologics currently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

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.