Quantbot Technologies LP Invests $628,000 in AbCellera Biologics Inc. $ABCL

Quantbot Technologies LP bought a new stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) during the 2nd quarter, Holdings Channel reports. The fund bought 79,955 shares of the company’s stock, valued at approximately $628,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning increased its position in AbCellera Biologics by 6.9% during the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock valued at $141,000 after purchasing an additional 2,656 shares during the period. Advisory Services Network LLC lifted its position in shares of AbCellera Biologics by 12.9% in the 4th quarter. Advisory Services Network LLC now owns 29,664 shares of the company’s stock worth $101,000 after purchasing an additional 3,386 shares during the period. Raymond James Financial Inc. boosted its stake in shares of AbCellera Biologics by 17.0% during the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock valued at $96,000 after purchasing an additional 4,070 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of AbCellera Biologics by 1.2% during the 4th quarter. Osaic Holdings Inc. now owns 347,321 shares of the company’s stock valued at $1,188,000 after purchasing an additional 4,246 shares in the last quarter. Finally, Cibc World Market Inc. increased its position in shares of AbCellera Biologics by 26.5% during the fourth quarter. Cibc World Market Inc. now owns 20,706 shares of the company’s stock valued at $71,000 after buying an additional 4,341 shares during the period. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

Shares of NASDAQ ABCL opened at $12.40 on Friday. AbCellera Biologics Inc. has a 1 year low of $2.74 and a 1 year high of $12.58. The stock has a market cap of $3.80 billion, a P/E ratio of -22.96 and a beta of 1.20. The firm has a 50-day moving average of $7.80 and a 200 day moving average of $5.42.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%.The business had revenue of $4.05 million during the quarter, compared to analysts’ expectations of $7.85 million. Research analysts expect that AbCellera Biologics Inc. will post -0.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABCL. Cantor Fitzgerald increased their price target on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Truist Financial upped their target price on AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Wall Street Zen lowered AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Tuesday, July 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, AbCellera Biologics currently has an average rating of “Moderate Buy” and a consensus target price of $12.83.

AbCellera Biologics Profile

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.