XML Financial LLC Takes $118,000 Position in AbCellera Biologics Inc. $ABCL

XML Financial LLC bought a new stake in AbCellera Biologics Inc. (NASDAQ:ABCL) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 34,500 shares of the company’s stock, valued at approximately $118,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Squarepoint Ops LLC grew its holdings in shares of AbCellera Biologics by 333.1% during the fourth quarter. Squarepoint Ops LLC now owns 57,685 shares of the company’s stock worth $169,000 after purchasing an additional 44,367 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in shares of AbCellera Biologics by 7.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 78,800 shares of the company’s stock valued at $176,000 after purchasing an additional 5,150 shares during the period. GEM Asset Management LLC purchased a new position in AbCellera Biologics during the 1st quarter worth approximately $63,000. Janney Montgomery Scott LLC acquired a new position in AbCellera Biologics during the first quarter worth approximately $29,000. Finally, AssuredPartners Investment Advisors LLC acquired a new position in AbCellera Biologics during the first quarter worth approximately $34,000. 61.42% of the stock is owned by hedge funds and other institutional investors.

AbCellera Biologics Stock Up 18.5%

Shares of AbCellera Biologics stock opened at $5.96 on Thursday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -10.84 and a beta of 0.69. AbCellera Biologics Inc. has a 52-week low of $1.89 and a 52-week high of $5.97. The company’s 50-day simple moving average is $4.50 and its 200-day simple moving average is $3.37.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABCL. KeyCorp lifted their target price on shares of AbCellera Biologics from $5.00 to $10.00 and gave the company an “overweight” rating in a report on Monday, July 14th. 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 started coverage on AbCellera Biologics in a report on Monday, July 7th. They set an “outperform” rating and a $5.00 price target on the stock. Leerink Partnrs upgraded AbCellera Biologics to a “strong-buy” rating in a research report on Monday, July 7th. Finally, Stifel Nicolaus reduced their price objective on AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus 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.