AbCellera Biologics Inc. (NASDAQ:ABCL) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in AbCellera Biologics Inc. (NASDAQ:ABCLFree Report) by 19.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,188 shares of the company’s stock after purchasing an additional 18,217 shares during the period. Principal Financial Group Inc.’s holdings in AbCellera Biologics were worth $635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABCL. Intellectus Partners LLC boosted its holdings in AbCellera Biologics by 1.2% in the 4th quarter. Intellectus Partners LLC now owns 887,283 shares of the company’s stock worth $5,066,000 after acquiring an additional 10,650 shares during the period. Handelsbanken Fonder AB boosted its position in AbCellera Biologics by 13.5% in the 4th quarter. Handelsbanken Fonder AB now owns 45,400 shares of the company’s stock valued at $259,000 after buying an additional 5,400 shares during the last quarter. Signaturefd LLC grew its stake in shares of AbCellera Biologics by 306.3% during the fourth quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock valued at $61,000 after acquiring an additional 7,988 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of AbCellera Biologics by 352.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,566 shares of the company’s stock worth $192,000 after acquiring an additional 26,143 shares during the last quarter. Finally, JGP Global Gestao de Recursos Ltda. acquired a new position in shares of AbCellera Biologics in the fourth quarter worth about $99,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. KeyCorp dropped their price objective on AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Thursday, February 22nd. Finally, Stifel Nicolaus dropped 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. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $16.17.

Read Our Latest Report on ABCL

AbCellera Biologics Stock Performance

Shares of NASDAQ:ABCL opened at $3.88 on Tuesday. The company’s fifty day moving average is $4.04 and its two-hundred day moving average is $4.74. AbCellera Biologics Inc. has a 1-year low of $3.58 and a 1-year high of $8.05. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -7.46 and a beta of 0.42.

AbCellera Biologics (NASDAQ:ABCLGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.02. The firm had revenue of $9.95 million for the quarter, compared to analyst estimates of $10.73 million. AbCellera Biologics had a negative net margin of 410.47% and a negative return on equity of 12.61%. AbCellera Biologics’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Sell-side analysts expect that AbCellera Biologics Inc. will post -0.6 EPS for the current fiscal year.

AbCellera Biologics Company Profile

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

See Also

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

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