B. Riley Wealth Advisors Inc. Makes New $48,000 Investment in AbCellera Biologics Inc. (NASDAQ:ABCL)

B. Riley Wealth Advisors Inc. purchased a new position in AbCellera Biologics Inc. (NASDAQ:ABCLFree Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,500 shares of the company’s stock, valued at approximately $48,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Worth Asset Management LLC acquired a new stake in shares of AbCellera Biologics during the first quarter worth $25,000. Point72 Asset Management L.P. acquired a new stake in shares of AbCellera Biologics during the second quarter worth $26,000. National Bank of Canada FI lifted its stake in shares of AbCellera Biologics by 392.7% during the third quarter. National Bank of Canada FI now owns 6,085 shares of the company’s stock worth $27,000 after buying an additional 4,850 shares during the period. NBC Securities Inc. acquired a new position in AbCellera Biologics during the third quarter valued at $30,000. Finally, Point72 Middle East FZE acquired a new position in AbCellera Biologics during the second quarter valued at $30,000. 61.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ABCL shares. Stifel Nicolaus decreased their target price on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Thursday, February 22nd. Finally, KeyCorp began coverage on shares of AbCellera Biologics in a research report on Tuesday, December 5th. They set an “overweight” rating and a $6.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.86.

Check Out Our Latest Report on AbCellera Biologics

AbCellera Biologics Price Performance

NASDAQ:ABCL opened at $4.58 on Tuesday. The company’s 50-day moving average is $5.04 and its two-hundred day moving average is $4.91. AbCellera Biologics Inc. has a 1-year low of $3.87 and a 1-year high of $8.05. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -8.81 and a beta of 0.38.

AbCellera Biologics (NASDAQ:ABCLGet Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 12.36% and a negative net margin of 384.99%. The company had revenue of $9.18 million during the quarter, compared to analyst estimates of $9.58 million. As a group, equities analysts anticipate that AbCellera Biologics Inc. will post -0.64 earnings per share for the current fiscal year.

About AbCellera Biologics

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AbCellera Biologics (NASDAQ:ABCL)

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