State Street Corp Buys 4,679 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

State Street Corp boosted its stake in AbCellera Biologics Inc. (NASDAQ:ABCL) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 323,229 shares of the company’s stock after purchasing an additional 4,679 shares during the period. State Street Corp’s holdings in AbCellera Biologics were worth $840,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABCL. Renaissance Technologies LLC raised its holdings in shares of AbCellera Biologics by 16.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock worth $5,117,000 after purchasing an additional 239,000 shares during the period. Citizens Financial Group Inc. RI purchased a new stake in AbCellera Biologics in the second quarter worth $923,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of AbCellera Biologics by 104.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company’s stock valued at $913,000 after buying an additional 158,000 shares during the period. Walleye Capital LLC purchased a new position in shares of AbCellera Biologics during the 3rd quarter valued at $668,000. Finally, GSA Capital Partners LLP grew its stake in shares of AbCellera Biologics by 991.3% during the 3rd quarter. GSA Capital Partners LLP now owns 241,866 shares of the company’s stock worth $629,000 after acquiring an additional 219,703 shares during the period. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABCL. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a research report on Tuesday, November 5th. Stifel Nicolaus reissued a “buy” rating and issued a $12.00 price target (down from $14.00) on shares of AbCellera Biologics in a report on Tuesday, November 5th.

AbCellera Biologics Price Performance

Shares of NASDAQ:ABCL opened at $3.03 on Friday. The company’s fifty day moving average price is $2.85 and its 200-day moving average price is $2.79. The firm has a market capitalization of $894.96 million, a price-to-earnings ratio of -4.97 and a beta of 0.41. AbCellera Biologics Inc. has a one year low of $2.34 and a one year high of $6.05.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. The firm had revenue of $6.51 million for the quarter, compared to the consensus estimate of $8.95 million. During the same period last year, the firm earned ($0.10) EPS. As a group, equities research analysts expect that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

AbCellera Biologics Profile

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.