AbCellera Biologics Inc. $ABCL Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 43.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,317,206 shares of the company’s stock after selling 3,258,270 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in AbCellera Biologics were worth $33,890,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. AssuredPartners Investment Advisors LLC purchased a new position in shares of AbCellera Biologics during the fourth quarter valued at approximately $34,000. Engineers Gate Manager LP acquired a new stake in shares of AbCellera Biologics in the fourth quarter worth approximately $38,000. Allworth Financial LP boosted its position in shares of AbCellera Biologics by 857.0% in the fourth quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock worth $39,000 after acquiring an additional 10,096 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in AbCellera Biologics in the first quarter valued at approximately $46,000. Finally, Magnetar Financial LLC acquired a new position in AbCellera Biologics during the fourth quarter worth approximately $49,000. 61.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on ABCL. Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Cantor Fitzgerald raised their target price on AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Truist Financial lifted their price target on shares of AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Stifel Nicolaus raised their price objective on AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday, July 7th. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.83.

AbCellera Biologics Trading Up 1.8%

Shares of AbCellera Biologics stock opened at $11.57 on Friday. The company’s 50-day moving average price is $8.35 and its two-hundred day moving average price is $5.72. AbCellera Biologics Inc. has a 52 week low of $2.74 and a 52 week high of $12.58. The stock has a market cap of $3.55 billion, a PE ratio of -21.43 and a beta of 1.32.

AbCellera Biologics (NASDAQ:ABCL) last issued its earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The business had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. On average, equities analysts predict that AbCellera Biologics Inc. will post -0.68 EPS for the current fiscal year.

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.