AbCellera Biologics Inc. $ABCL Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in AbCellera Biologics Inc. (NASDAQ:ABCL) by 375.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 117,031 shares of the company’s stock after purchasing an additional 92,414 shares during the period. Hsbc Holdings PLC’s holdings in AbCellera Biologics were worth $401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in AbCellera Biologics during the fourth quarter worth $26,938,000. Goldman Sachs Group Inc. lifted its stake in shares of AbCellera Biologics by 1,636.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company’s stock valued at $14,858,000 after purchasing an additional 4,094,268 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of AbCellera Biologics by 977.8% in the 3rd quarter. Bank of America Corp DE now owns 2,418,304 shares of the company’s stock valued at $12,164,000 after purchasing an additional 2,193,939 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of AbCellera Biologics by 146.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company’s stock worth $6,142,000 after purchasing an additional 1,065,888 shares during the period. Finally, Two Sigma Investments LP grew its holdings in shares of AbCellera Biologics by 25.9% during the 3rd quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company’s stock worth $26,031,000 after purchasing an additional 1,064,290 shares during the period. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Stock Up 5.0%

ABCL stock opened at $6.47 on Friday. The business has a 50 day moving average price of $5.97 and a 200 day moving average price of $4.49. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -13.48 and a beta of 1.14. AbCellera Biologics Inc. has a fifty-two week low of $2.74 and a fifty-two week high of $8.44.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.08. The company had revenue of $8.31 million for the quarter, compared to analyst estimates of $5.41 million. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.During the same quarter last year, the company posted ($0.15) earnings per share. As a group, sell-side analysts anticipate that AbCellera Biologics Inc. will post -0.67 EPS for the current year.

Wall Street Analyst Weigh In

ABCL has been the subject of a number of recent analyst reports. Cantor Fitzgerald began coverage on shares of AbCellera Biologics in a research report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price target for the company. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, July 7th. JonesTrading assumed coverage on shares of AbCellera Biologics in a report on Friday, April 10th. They issued a “buy” rating and a $11.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Monday, April 20th. Finally, Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $8.00.

AbCellera Biologics Company Profile

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.