79,955 Shares in AbCellera Biologics Inc. $ABCL Purchased by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in AbCellera Biologics Inc. (NASDAQ:ABCL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 79,955 shares of the company’s stock, valued at approximately $628,000.

A number of other large investors have also recently modified their holdings of ABCL. AssuredPartners Investment Advisors LLC bought a new position in shares of AbCellera Biologics in the fourth quarter worth approximately $34,000. Engineers Gate Manager LP bought a new stake in AbCellera Biologics during the fourth quarter valued at approximately $38,000. Allworth Financial LP lifted its position in AbCellera Biologics by 857.0% during the fourth quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock valued at $39,000 after purchasing an additional 10,096 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in AbCellera Biologics in the 1st quarter worth approximately $46,000. Finally, Magnetar Financial LLC purchased a new position in AbCellera Biologics in the 4th quarter worth approximately $49,000. Institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Stock Performance

Shares of ABCL opened at $12.40 on Friday. AbCellera Biologics Inc. has a fifty-two week low of $2.74 and a fifty-two week high of $12.58. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of -22.96 and a beta of 1.20. The firm has a 50 day moving average price of $7.80 and a 200-day moving average price of $5.42.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ABCL. Cantor Fitzgerald raised their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Tuesday, July 7th. Truist Financial raised their price target on AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Stifel Nicolaus lifted their price target 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, Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. One equities research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.83.

AbCellera Biologics 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.