Sanctuary Advisors LLC Sells 10,808 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

Sanctuary Advisors LLC lowered its stake in AbCellera Biologics Inc. (NASDAQ:ABCL) by 10.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 95,116 shares of the company’s stock after selling 10,808 shares during the period. Sanctuary Advisors LLC’s holdings in AbCellera Biologics were worth $263,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in shares of AbCellera Biologics in the 3rd quarter worth approximately $26,000. NBC Securities Inc. lifted its position in AbCellera Biologics by 56.0% in the third quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock worth $29,000 after buying an additional 4,100 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in AbCellera Biologics during the second quarter worth $32,000. Ballentine Partners LLC bought a new position in AbCellera Biologics during the third quarter valued at $54,000. Finally, Clarkston Capital Partners LLC purchased a new stake in shares of AbCellera Biologics in the third quarter valued at $57,000. 61.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Benchmark reaffirmed a “hold” rating on shares of AbCellera Biologics in a research note on Tuesday, November 5th. Stifel Nicolaus restated a “buy” rating and set a $12.00 target price (down previously from $14.00) on shares of AbCellera Biologics in a research report on Tuesday, November 5th.

AbCellera Biologics Trading Down 1.3 %

NASDAQ:ABCL opened at $2.99 on Friday. The company has a market cap of $883.14 million, a price-to-earnings ratio of -4.90 and a beta of 0.41. AbCellera Biologics Inc. has a twelve month low of $2.34 and a twelve month high of $6.05. The stock has a fifty day simple moving average of $2.85 and a 200-day simple moving average of $2.80.

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

AbCellera Biologics Company 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.