Headlands Technologies LLC Acquires 63,596 Shares of AbCellera Biologics Inc. $ABCL

Headlands Technologies LLC raised its holdings in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 34.8% in the second quarter, Holdings Channel reports. The institutional investor owned 246,252 shares of the company’s stock after acquiring an additional 63,596 shares during the period. Headlands Technologies LLC’s holdings in AbCellera Biologics were worth $1,933,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of AbCellera Biologics in the 4th quarter worth $26,938,000. Bank of America Corp DE purchased a new position in AbCellera Biologics during the second quarter valued at $48,211,000. Goldman Sachs Group Inc. lifted its position in AbCellera Biologics by 1,636.3% during the fourth 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 in the last quarter. BlackRock Inc. bought a new stake in AbCellera Biologics during the second quarter valued at about $29,872,000. Finally, Tudor Investment Corp ET AL grew its holdings in AbCellera Biologics by 146.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company’s stock valued at $6,142,000 after purchasing an additional 1,065,888 shares during the period. 61.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABCL. Cantor Fitzgerald raised their price objective on AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday, July 7th. Wall Street Zen cut shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Finally, Truist Financial lifted their target price on shares of AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. One research 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 assigned a Sell rating to the stock. According to MarketBeat.com, AbCellera Biologics presently has a consensus rating of “Moderate Buy” and an average target price of $12.83.

AbCellera Biologics Trading Up 1.1%

Shares of AbCellera Biologics stock opened at $11.48 on Tuesday. The firm has a market cap of $3.52 billion, a PE ratio of -21.26 and a beta of 1.20. The stock has a 50 day moving average of $8.03 and a 200 day moving average of $5.54. AbCellera Biologics Inc. has a 12 month low of $2.74 and a 12 month high of $12.58.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The firm had revenue of $4.05 million during 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%. As a group, equities research analysts forecast that AbCellera Biologics Inc. will post -0.68 earnings per share 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.