19,501 Shares in AbCellera Biologics Inc. (NASDAQ:ABCL) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,501 shares of the company’s stock, valued at approximately $57,000.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in AbCellera Biologics by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 355,747 shares of the company’s stock worth $925,000 after buying an additional 21,483 shares during the period. State Street Corp increased its position in AbCellera Biologics by 1.5% in the 3rd quarter. State Street Corp now owns 323,229 shares of the company’s stock valued at $840,000 after acquiring an additional 4,679 shares during the period. Moloney Securities Asset Management LLC acquired a new stake in AbCellera Biologics in the 4th quarter valued at approximately $265,000. China Universal Asset Management Co. Ltd. raised its stake in AbCellera Biologics by 10.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 62,629 shares of the company’s stock valued at $184,000 after acquiring an additional 5,955 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in AbCellera Biologics by 58.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 34,000 shares of the company’s stock worth $88,000 after acquiring an additional 12,500 shares during the period. 61.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 28th. Benchmark reaffirmed a “hold” rating on shares of AbCellera Biologics in a research note on Monday, March 3rd. Finally, KeyCorp dropped their price objective on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th.

AbCellera Biologics Price Performance

Shares of ABCL opened at $2.40 on Monday. The company has a market capitalization of $715.17 million, a price-to-earnings ratio of -3.93 and a beta of 0.50. The business’s 50-day moving average is $2.58 and its 200-day moving average is $2.78. AbCellera Biologics Inc. has a fifty-two week low of $1.89 and a fifty-two week high of $4.34.

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.