Moloney Securities Asset Management LLC Has $41,000 Stock Holdings in AbCellera Biologics Inc. $ABCL

Moloney Securities Asset Management LLC lessened its stake in AbCellera Biologics Inc. (NASDAQ:ABCL) by 16.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,000 shares of the company’s stock after selling 2,400 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in AbCellera Biologics were worth $41,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in AbCellera Biologics in the 2nd quarter valued at approximately $35,000. J2 Capital Management Inc acquired a new position in shares of AbCellera Biologics during the 2nd quarter worth $45,000. XML Financial LLC acquired a new position in shares of AbCellera Biologics during the 2nd quarter worth $118,000. Ballentine Partners LLC acquired a new position in shares of AbCellera Biologics during the 2nd quarter worth $81,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of AbCellera Biologics by 248.2% during the 1st 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 purchasing an additional 11,171,063 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Trading Down 0.9%

NASDAQ ABCL opened at $5.66 on Monday. The company has a fifty day simple moving average of $4.93 and a 200 day simple moving average of $3.80. The company has a market cap of $1.69 billion, a P/E ratio of -10.29 and a beta of 0.69. AbCellera Biologics Inc. has a 1 year low of $1.89 and a 1 year high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 511.88% and a negative return on equity of 16.17%. Equities research analysts forecast that AbCellera Biologics Inc. will post -0.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ABCL shares. Leerink Partners started coverage on shares of AbCellera Biologics in a research note on Monday, July 7th. They set an “outperform” rating and a $5.00 price target on the stock. Leerink Partnrs upgraded shares of AbCellera Biologics to a “strong-buy” rating in a research note on Monday, July 7th. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Friday. KeyCorp increased their price target on shares of AbCellera Biologics from $5.00 to $10.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.00.

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.