Moloney Securities Asset Management LLC Has $41,000 Stake in AbCellera Biologics Inc. $ABCL

Moloney Securities Asset Management LLC trimmed its stake in AbCellera Biologics Inc. (NASDAQ:ABCL) by 16.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,000 shares of the company’s stock after selling 2,400 shares during the period. Moloney Securities Asset Management LLC’s holdings in AbCellera Biologics were worth $41,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABCL. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of AbCellera Biologics by 248.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,671,063 shares of the company’s stock worth $34,946,000 after acquiring an additional 11,171,063 shares during the period. XML Financial LLC bought a new position in shares of AbCellera Biologics during the 2nd quarter worth about $118,000. Federated Hermes Inc. lifted its holdings in shares of AbCellera Biologics by 3.4% during the 1st quarter. Federated Hermes Inc. now owns 947,751 shares of the company’s stock worth $2,113,000 after acquiring an additional 31,514 shares during the period. Ballentine Partners LLC bought a new position in shares of AbCellera Biologics during the 2nd quarter worth about $81,000. Finally, Virtu Financial LLC bought a new position in shares of AbCellera Biologics during the 1st quarter worth about $52,000. 61.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on ABCL. Wall Street Zen raised shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Leerink Partners began coverage on shares of AbCellera Biologics in a report on Monday, July 7th. They set an “outperform” rating and a $5.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday. Stifel Nicolaus reduced their price objective on shares of AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 8th. Finally, Leerink Partnrs raised shares of AbCellera Biologics to a “strong-buy” rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.00.

AbCellera Biologics Stock Down 0.9%

Shares of ABCL stock opened at $5.66 on Monday. AbCellera Biologics Inc. has a 12-month low of $1.89 and a 12-month high of $6.51. The company has a market capitalization of $1.69 billion, a P/E ratio of -10.29 and a beta of 0.69. The firm has a 50-day moving average price of $4.93 and a 200 day moving average price of $3.80.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, topping 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 company had revenue of $17.08 million during the quarter, compared to the consensus estimate of $7.55 million. As a group, research analysts expect that AbCellera Biologics Inc. will post -0.59 earnings per share for the current 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.