10,127 Shares in AbCellera Biologics Inc. $ABCL Acquired by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd acquired a new position in AbCellera Biologics Inc. (NASDAQ:ABCL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,127 shares of the company’s stock, valued at approximately $35,000.

Several other hedge funds also recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of AbCellera Biologics by 248.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,671,063 shares of the company’s stock worth $34,946,000 after buying an additional 11,171,063 shares during the period. Federated Hermes Inc. raised its stake in AbCellera Biologics by 3.4% in the first quarter. Federated Hermes Inc. now owns 947,751 shares of the company’s stock valued at $2,113,000 after buying an additional 31,514 shares in the last quarter. Pier 88 Investment Partners LLC raised its stake in AbCellera Biologics by 2.9% in the first quarter. Pier 88 Investment Partners LLC now owns 243,790 shares of the company’s stock valued at $544,000 after buying an additional 6,890 shares in the last quarter. EntryPoint Capital LLC raised its stake in AbCellera Biologics by 11.3% in the first quarter. EntryPoint Capital LLC now owns 187,822 shares of the company’s stock valued at $419,000 after buying an additional 19,140 shares in the last quarter. Finally, XML Financial LLC acquired a new stake in AbCellera Biologics in the second quarter valued at $118,000. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

AbCellera Biologics Trading Down 0.9%

Shares of ABCL opened at $5.66 on Monday. AbCellera Biologics Inc. has a twelve month low of $1.89 and a twelve month high of $6.51. The stock’s 50 day moving average is $4.93 and its two-hundred day moving average is $3.80. The firm has a market capitalization of $1.69 billion, a PE ratio of -10.29 and a beta of 0.69.

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%. On average, sell-side analysts predict that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on ABCL shares. Stifel Nicolaus cut their target price on AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Leerink Partners started coverage on AbCellera Biologics in a research report on Monday, July 7th. They set an “outperform” rating and a $5.00 target price on the stock. Leerink Partnrs upgraded AbCellera Biologics to a “strong-buy” rating in a research report on Monday, July 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday. Finally, Wall Street Zen raised AbCellera Biologics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. One 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 issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

AbCellera Biologics Profile

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.