UBS Group AG Sells 549,791 Shares of AbCellera Biologics Inc. $ABCL

UBS Group AG reduced its holdings in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 22.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,939,409 shares of the company’s stock after selling 549,791 shares during the period. UBS Group AG owned about 0.65% of AbCellera Biologics worth $6,633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of America Corp DE raised its position in AbCellera Biologics by 977.8% during 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 in the last quarter. Two Sigma Investments LP raised its position in AbCellera Biologics by 25.9% during the 3rd quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company’s stock valued at $26,031,000 after purchasing an additional 1,064,290 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in AbCellera Biologics during the 3rd quarter valued at $3,707,000. Tudor Investment Corp ET AL bought a new stake in AbCellera Biologics during the 3rd quarter valued at $3,673,000. Finally, Jump Financial LLC bought a new stake in AbCellera Biologics during the 3rd quarter valued at $3,398,000. 61.42% of the stock is owned by institutional investors.

AbCellera Biologics Trading Down 2.6%

ABCL opened at $4.05 on Wednesday. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -8.44 and a beta of 1.02. AbCellera Biologics Inc. has a 12 month low of $1.94 and a 12 month high of $6.51. The stock has a fifty day moving average price of $3.87 and a 200-day moving average price of $3.78.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.08. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.The firm had revenue of $8.32 million for the quarter, compared to the consensus estimate of $5.41 million. During the same period in the previous year, the business earned ($0.15) EPS. On average, equities research analysts forecast 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 research analyst reports. JonesTrading initiated coverage on AbCellera Biologics in a research report on Friday, April 10th. They set a “buy” rating and a $11.00 target price for the company. Wall Street Zen lowered AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Monday, April 20th. Finally, Cantor Fitzgerald initiated coverage on AbCellera Biologics in a research report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 target price for the company. One 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.80.

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.