American Century Companies Inc. Purchases 4,335 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

American Century Companies Inc. grew its position in AbCellera Biologics Inc. (NASDAQ:ABCL) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,292,592 shares of the company’s stock after purchasing an additional 4,335 shares during the quarter. American Century Companies Inc. owned approximately 0.45% of AbCellera Biologics worth $9,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its holdings in shares of AbCellera Biologics by 1,087.3% in the second quarter. State Street Corp now owns 3,194,309 shares of the company’s stock worth $34,019,000 after buying an additional 2,925,279 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of AbCellera Biologics by 997.1% in the first quarter. Lazard Asset Management LLC now owns 3,189,837 shares of the company’s stock worth $31,100,000 after buying an additional 2,899,091 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of AbCellera Biologics by 385.5% in the first quarter. Renaissance Technologies LLC now owns 2,617,603 shares of the company’s stock worth $25,522,000 after buying an additional 2,078,400 shares in the last quarter. Northern Trust Corp purchased a new position in shares of AbCellera Biologics in the second quarter worth $15,117,000. Finally, BlackRock Inc. lifted its holdings in shares of AbCellera Biologics by 6.3% in the third quarter. BlackRock Inc. now owns 12,569,140 shares of the company’s stock worth $124,310,000 after buying an additional 743,808 shares in the last quarter. 47.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ABCL shares. Benchmark lowered their target price on shares of AbCellera Biologics from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group lowered their target price on shares of AbCellera Biologics from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, August 4th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AbCellera Biologics presently has an average rating of “Buy” and a consensus target price of $23.13.

AbCellera Biologics Stock Up 2.6 %

AbCellera Biologics stock opened at $5.59 on Monday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -20.70 and a beta of 0.01. The firm’s fifty day moving average is $6.52 and its 200 day moving average is $7.00. AbCellera Biologics Inc. has a 52-week low of $5.37 and a 52-week high of $14.97.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Thursday, August 3rd. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. AbCellera Biologics had a negative net margin of 50.91% and a negative return on equity of 6.05%. The business had revenue of $10.10 million for the quarter, compared to the consensus estimate of $12.38 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. The business’s revenue for the quarter was down 78.0% on a year-over-year basis. On average, equities research analysts anticipate that AbCellera Biologics Inc. will post -0.55 earnings per share 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 had discovery programs that are either completed, in progress, or under contract with partners. It has a research collaboration and license agreement with Eli Lilly and Company; and a research collaboration with Confo Therapeutics for the discovery of therapeutic antibody candidates targeting two undisclosed GPCR targets.