Cookson Peirce & Co. Inc. acquired a new stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $785,000.
A number of other hedge funds also recently added to or reduced their stakes in ABCL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of AbCellera Biologics in the 4th quarter valued at approximately $26,938,000. Bank of America Corp DE purchased a new stake in shares of AbCellera Biologics during the second quarter worth approximately $48,211,000. Goldman Sachs Group Inc. lifted its holdings in shares of 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 worth $14,858,000 after purchasing an additional 4,094,268 shares during the period. BlackRock Inc. acquired a new stake in shares of AbCellera Biologics during the second quarter worth $29,872,000. Finally, Tudor Investment Corp ET AL grew its position in AbCellera Biologics by 146.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company’s stock valued at $6,142,000 after buying an additional 1,065,888 shares during the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.
AbCellera Biologics Price Performance
AbCellera Biologics stock opened at $11.35 on Monday. The stock’s 50 day moving average price is $7.92 and its 200 day moving average price is $5.48. AbCellera Biologics Inc. has a 1-year low of $2.74 and a 1-year high of $12.58. The company has a market cap of $3.48 billion, a PE ratio of -21.02 and a beta of 1.20.
Analyst Upgrades and Downgrades
ABCL has been the topic of several recent research reports. Truist Financial boosted their price objective 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. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Friday, July 17th. Stifel Nicolaus lifted their target price on shares of AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Cantor Fitzgerald increased their price target on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.
Read Our Latest Stock Report on ABCL
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.
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