XTX Topco Ltd Invests $99,000 in AbCellera Biologics Inc. (NASDAQ:ABCL)

XTX Topco Ltd bought a new position in AbCellera Biologics Inc. (NASDAQ:ABCL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 33,590 shares of the company’s stock, valued at approximately $99,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacifica Partners Inc. increased its stake in AbCellera Biologics by 78.8% during the first quarter. Pacifica Partners Inc. now owns 8,619 shares of the company’s stock worth $39,000 after acquiring an additional 3,799 shares during the last quarter. Seelaus Asset Management LLC purchased a new position in AbCellera Biologics in the first quarter valued at approximately $68,000. B. Riley Wealth Advisors Inc. lifted its position in AbCellera Biologics by 85.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,500 shares of the company’s stock valued at $111,000 after buying an additional 9,000 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in AbCellera Biologics during the second quarter worth approximately $117,000. Finally, Headlands Technologies LLC acquired a new stake in shares of AbCellera Biologics in the second quarter worth $146,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

AbCellera Biologics stock opened at $2.57 on Wednesday. The firm’s fifty day moving average price is $2.69 and its 200 day moving average price is $3.35. The company has a market capitalization of $755.72 million, a price-to-earnings ratio of -4.94 and a beta of 0.37. AbCellera Biologics Inc. has a 12-month low of $2.34 and a 12-month high of $6.05.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. AbCellera Biologics had a negative return on equity of 13.40% and a negative net margin of 463.77%. The business had revenue of $7.30 million for the quarter, compared to analysts’ expectations of $10.12 million. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. The company’s revenue was down 27.7% compared to the same quarter last year. Analysts forecast that AbCellera Biologics Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. KeyCorp reaffirmed an “overweight” rating and set a $5.00 price target (down from $7.00) on shares of AbCellera Biologics in a research report on Thursday, July 11th. Benchmark lowered AbCellera Biologics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.20.

AbCellera Biologics 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’s preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.