Bank of Montreal Can Buys New Shares in AbCellera Biologics Inc. (NASDAQ:ABCL)

Bank of Montreal Can bought a new stake in AbCellera Biologics Inc. (NASDAQ:ABCL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 64,442 shares of the company’s stock, valued at approximately $489,000.

Several other hedge funds have also made changes to their positions in the stock. Belpointe Asset Management LLC lifted its stake in AbCellera Biologics by 55.7% during the first quarter. Belpointe Asset Management LLC now owns 5,300 shares of the company’s stock worth $40,000 after purchasing an additional 1,896 shares during the period. Stansberry Asset Management LLC lifted its stake in AbCellera Biologics by 2.1% during the fourth quarter. Stansberry Asset Management LLC now owns 100,176 shares of the company’s stock worth $1,015,000 after purchasing an additional 2,026 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in AbCellera Biologics by 16.5% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,131 shares of the company’s stock worth $114,000 after purchasing an additional 2,140 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in AbCellera Biologics by 6.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,963 shares of the company’s stock worth $364,000 after purchasing an additional 2,249 shares during the period. Finally, Brandywine Managers LLC lifted its stake in AbCellera Biologics by 7.6% during the first quarter. Brandywine Managers LLC now owns 40,091 shares of the company’s stock worth $391,000 after purchasing an additional 2,827 shares during the period. Institutional investors own 47.39% of the company’s stock.

AbCellera Biologics Price Performance

ABCL stock opened at $4.47 on Friday. The company has a 50 day moving average price of $4.51 and a 200 day moving average price of $5.84. AbCellera Biologics Inc. has a fifty-two week low of $3.87 and a fifty-two week high of $14.42. The stock has a market capitalization of $1.30 billion, a PE ratio of -9.93 and a beta of 0.11.

Analysts Set New Price Targets

A number of research analysts have commented on ABCL shares. Benchmark cut shares of AbCellera Biologics from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Bloom Burton restated a “buy” rating on shares of AbCellera Biologics in a research note on Friday, November 3rd. Piper Sandler reiterated an “overweight” rating and issued a $20.00 target price on shares of AbCellera Biologics in a research note on Friday, October 13th. Piper Sandler Companies reissued an “overweight” rating and issued a $20.00 target price on shares of AbCellera Biologics in a report on Friday, October 13th. Finally, The Goldman Sachs Group reduced their target price on AbCellera Biologics from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, August 4th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, AbCellera Biologics has an average rating of “Moderate Buy” and an average price target of $21.88.

About AbCellera Biologics

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.