Federated Hermes Inc. Sells 136,673 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

Federated Hermes Inc. reduced its position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,117,680 shares of the company’s stock after selling 136,673 shares during the period. Federated Hermes Inc. owned 1.07% of AbCellera Biologics worth $17,802,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ABCL. Schonfeld Strategic Advisors LLC lifted its position in AbCellera Biologics by 143.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 358,400 shares of the company’s stock worth $1,649,000 after acquiring an additional 211,000 shares during the last quarter. Dark Forest Capital Management LP boosted its stake in AbCellera Biologics by 199.6% during the 3rd quarter. Dark Forest Capital Management LP now owns 278,618 shares of the company’s stock valued at $1,282,000 after purchasing an additional 185,606 shares during the period. Trexquant Investment LP boosted its stake in AbCellera Biologics by 458.5% during the 3rd quarter. Trexquant Investment LP now owns 272,158 shares of the company’s stock valued at $1,252,000 after purchasing an additional 223,430 shares during the period. Graham Capital Management L.P. grew its holdings in AbCellera Biologics by 149.4% in the 3rd quarter. Graham Capital Management L.P. now owns 180,389 shares of the company’s stock valued at $830,000 after buying an additional 108,060 shares during the last quarter. Finally, Duality Advisers LP increased its position in AbCellera Biologics by 30.4% in the 3rd quarter. Duality Advisers LP now owns 162,200 shares of the company’s stock worth $746,000 after buying an additional 37,825 shares during the period. 61.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ABCL has been the subject of several research reports. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Thursday, February 22nd. Stifel Nicolaus decreased their price target on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, AbCellera Biologics currently has an average rating of “Buy” and an average target price of $15.86.

AbCellera Biologics Trading Up 3.6 %

Shares of AbCellera Biologics stock opened at $4.01 on Tuesday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -7.71 and a beta of 0.36. The firm’s 50-day moving average price is $4.68 and its two-hundred day moving average price is $4.82. AbCellera Biologics Inc. has a 1-year low of $3.79 and a 1-year high of $8.05.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $9.18 million for the quarter, compared to the consensus estimate of $9.58 million. As a group, equities research analysts predict that AbCellera Biologics Inc. will post -0.66 EPS for the current year.

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's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.