AbCellera Biologics Inc. (NASDAQ:ABCL) is Prosight Management LP’s 5th Largest Position

Prosight Management LP lessened its position in AbCellera Biologics Inc. (NASDAQ:ABCL) by 19.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,350,000 shares of the company’s stock after selling 1,729,539 shares during the quarter. AbCellera Biologics makes up about 6.0% of Prosight Management LP’s investment portfolio, making the stock its 5th largest holding. Prosight Management LP owned about 2.49% of AbCellera Biologics worth $21,536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABCL. DKM Wealth Management Inc. bought a new position in AbCellera Biologics during the 4th quarter valued at approximately $29,000. State of New Jersey Common Pension Fund D bought a new position in AbCellera Biologics during the 4th quarter valued at approximately $36,000. Balyasny Asset Management L.P. bought a new position in AbCellera Biologics during the 4th quarter valued at approximately $40,000. Mariner LLC bought a new stake in shares of AbCellera Biologics in the 4th quarter worth $42,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of AbCellera Biologics in the 4th quarter worth $46,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ABCL. Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a report on Monday, March 3rd. KeyCorp lifted their target price on AbCellera Biologics from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. Finally, Stifel Nicolaus reduced their target price on AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 28th.

AbCellera Biologics Stock Performance

NASDAQ ABCL opened at $2.05 on Thursday. The company has a market capitalization of $611.77 million, a PE ratio of -3.36 and a beta of 0.46. The business’s fifty day moving average is $2.31 and its 200 day moving average is $2.73. AbCellera Biologics Inc. has a fifty-two week low of $1.89 and a fifty-two week high of $4.34.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.02. The company had revenue of $4.24 million for the quarter, compared to the consensus estimate of $7.12 million. AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. On average, sell-side analysts forecast that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

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.