UBS Group AG Reduces Stock Position in AbCellera Biologics Inc. $ABCL

UBS Group AG lessened its position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 22.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,939,409 shares of the company’s stock after selling 549,791 shares during the quarter. UBS Group AG’s holdings in AbCellera Biologics were worth $6,633,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. State of Michigan Retirement System boosted its stake in shares of AbCellera Biologics by 712.6% in the third quarter. State of Michigan Retirement System now owns 400,000 shares of the company’s stock worth $2,012,000 after buying an additional 350,775 shares during the last quarter. DNB Asset Management AS purchased a new stake in shares of AbCellera Biologics in the third quarter worth about $3,301,000. Tudor Investment Corp ET AL purchased a new stake in shares of AbCellera Biologics in the third quarter worth about $3,673,000. Stratos Wealth Advisors LLC boosted its stake in shares of AbCellera Biologics by 21.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 23,000 shares of the company’s stock worth $79,000 after buying an additional 4,000 shares during the last quarter. Finally, MOR Wealth Management LLC purchased a new stake in shares of AbCellera Biologics in the fourth quarter worth about $113,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ABCL shares. Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Monday, April 20th. JonesTrading started coverage on AbCellera Biologics in a research note on Friday, April 10th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, Cantor Fitzgerald started coverage on AbCellera Biologics in a research note on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.80.

AbCellera Biologics Trading Down 2.6%

NASDAQ ABCL opened at $4.05 on Wednesday. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -8.44 and a beta of 1.02. The stock has a 50-day moving average of $3.87 and a 200 day moving average of $3.78. AbCellera Biologics Inc. has a twelve month low of $1.94 and a twelve month high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.08. The company had revenue of $8.32 million for the quarter, compared to the consensus estimate of $5.41 million. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.During the same quarter in the prior year, the business posted ($0.15) earnings per share. Equities analysts predict that AbCellera Biologics Inc. will post -0.67 EPS for the current fiscal year.

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.