UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in AbCellera Biologics Inc. (NASDAQ:ABCL – Free Report) by 43.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,317,206 shares of the company’s stock after selling 3,258,270 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.41% of AbCellera Biologics worth $33,890,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of America Corp DE acquired a new position in AbCellera Biologics during the 2nd quarter worth approximately $48,211,000. Two Sigma Investments LP lifted its holdings in AbCellera Biologics by 25.9% during the 3rd quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company’s stock worth $26,031,000 after buying an additional 1,064,290 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in AbCellera Biologics by 1,636.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company’s stock worth $14,858,000 after buying an additional 4,094,268 shares during the last quarter. BlackRock Inc. acquired a new position in shares of AbCellera Biologics during the 2nd quarter worth about $29,872,000. Finally, Tudor Investment Corp ET AL increased its holdings in shares of 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 acquiring an additional 1,065,888 shares during the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Benchmark raised shares of 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. Stifel Nicolaus boosted their price target on shares of AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Cantor Fitzgerald upped their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Truist Financial raised their price objective on AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, AbCellera Biologics currently has an average rating of “Moderate Buy” and a consensus target price of $12.83.
AbCellera Biologics Price Performance
ABCL stock opened at $11.57 on Friday. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -21.43 and a beta of 1.32. The company has a fifty day moving average price of $8.35 and a 200 day moving average price of $5.72. AbCellera Biologics Inc. has a 12 month low of $2.74 and a 12 month high of $12.58.
AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The business had revenue of $4.05 million during the quarter, compared to analyst estimates of $7.85 million. AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. As a group, analysts anticipate that AbCellera Biologics Inc. will post -0.68 earnings per share for the current year.
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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