Hsbc Holdings PLC increased its stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL – Free Report) by 375.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,031 shares of the company’s stock after acquiring an additional 92,414 shares during the period. Hsbc Holdings PLC’s holdings in AbCellera Biologics were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. AssuredPartners Investment Advisors LLC acquired a new position in AbCellera Biologics in the fourth quarter valued at approximately $34,000. Voleon Capital Management LP acquired a new stake in shares of AbCellera Biologics during the 3rd quarter worth approximately $56,000. Engineers Gate Manager LP purchased a new position in shares of AbCellera Biologics during the 4th quarter valued at approximately $38,000. Allworth Financial LP increased its holdings in shares of AbCellera Biologics by 857.0% during the 4th quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock valued at $39,000 after purchasing an additional 10,096 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of AbCellera Biologics in the 4th quarter valued at $49,000. 61.42% of the stock is currently owned by hedge funds and other institutional investors.
AbCellera Biologics Price Performance
Shares of AbCellera Biologics stock opened at $6.47 on Friday. The stock’s 50 day simple moving average is $5.97 and its 200-day simple moving average is $4.49. The stock has a market cap of $1.98 billion, a P/E ratio of -13.48 and a beta of 1.14. AbCellera Biologics Inc. has a 1-year low of $2.74 and a 1-year high of $8.44.
Analysts Set New Price Targets
ABCL has been the topic of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Monday, April 20th. Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Tuesday, July 7th. Cantor Fitzgerald started coverage on AbCellera Biologics in a research note on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target for the company. Finally, JonesTrading initiated coverage on AbCellera Biologics in a report on Friday, April 10th. They issued a “buy” rating and a $11.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.
About AbCellera Biologics
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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