Hsbc Holdings PLC grew its position in AbCellera Biologics Inc. (NASDAQ:ABCL – Get Rating) by 32.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,799 shares of the company’s stock after purchasing an additional 19,492 shares during the period. Hsbc Holdings PLC’s holdings in AbCellera Biologics were worth $797,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in ABCL. Advisor Group Holdings Inc. boosted its stake in shares of AbCellera Biologics by 51.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 40,699 shares of the company’s stock valued at $397,000 after purchasing an additional 13,877 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AbCellera Biologics by 83.9% in the 1st quarter. JPMorgan Chase & Co. now owns 150,882 shares of the company’s stock valued at $1,471,000 after purchasing an additional 68,844 shares in the last quarter. Acadian Asset Management LLC acquired a new position in AbCellera Biologics during the 1st quarter worth about $283,000. BlackRock Inc. lifted its position in AbCellera Biologics by 3.4% during the 1st quarter. BlackRock Inc. now owns 2,447,299 shares of the company’s stock worth $23,861,000 after buying an additional 80,057 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in AbCellera Biologics by 55.6% during the 1st quarter. Federated Hermes Inc. now owns 1,288,000 shares of the company’s stock worth $12,558,000 after buying an additional 460,153 shares in the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.
AbCellera Biologics Trading Up 2.4 %
AbCellera Biologics stock opened at $8.38 on Friday. AbCellera Biologics Inc. has a 1 year low of $5.42 and a 1 year high of $14.97. The company has a market cap of $2.41 billion, a PE ratio of 16.76 and a beta of -0.09. The company’s 50-day moving average is $9.82 and its two-hundred day moving average is $10.84.
AbCellera Biologics (NASDAQ:ABCL – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.11). The company had revenue of $21.50 million during the quarter, compared to the consensus estimate of $50.80 million. AbCellera Biologics had a net margin of 32.66% and a return on equity of 13.50%. The business’s revenue was down 84.6% compared to the same quarter last year. During the same period last year, the company earned $0.19 earnings per share. Research analysts forecast that AbCellera Biologics Inc. will post -0.57 EPS for the current year.
Analysts Set New Price Targets
Several research analysts recently issued reports on ABCL shares. Cowen started coverage on shares of AbCellera Biologics in a research report on Tuesday. They set an “outperform” rating on the stock. The Goldman Sachs Group started coverage on shares of AbCellera Biologics in a research report on Thursday, December 15th. They set a “buy” rating and a $30.00 price target on the stock. BMO Capital Markets reduced their price target on shares of AbCellera Biologics from $40.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. SVB Leerink reduced their price target on shares of AbCellera Biologics from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, January 6th. Finally, Cowen began coverage on shares of AbCellera Biologics in a research report on Tuesday. They set an “outperform” rating on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $27.33.
Insider Activity
In related news, major shareholder Holdings Ltd. Thermopylae purchased 85,102 shares of the stock in a transaction dated Friday, December 16th. The stock was bought at an average cost of $10.10 per share, with a total value of $859,530.20. Following the purchase, the insider now directly owns 55,859,493 shares in the company, valued at approximately $564,180,879.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 30.30% of the stock is currently owned by company insiders.
About AbCellera Biologics
AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, artificial intelligence-powered antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed as drugs. As of December 31, 2021, the company had 156 discovery programs that are either completed, in progress, or under contract with 36 partners.
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