Ballentine Partners LLC Acquires New Holdings in AbCellera Biologics Inc. $ABCL

Ballentine Partners LLC purchased a new position in AbCellera Biologics Inc. (NASDAQ:ABCL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,689 shares of the company’s stock, valued at approximately $81,000.

Other institutional investors have also added to or reduced their stakes in the company. Stratos Wealth Advisors LLC acquired a new stake in AbCellera Biologics in the first quarter worth about $27,000. Janney Montgomery Scott LLC acquired a new stake in AbCellera Biologics in the first quarter worth about $29,000. AssuredPartners Investment Advisors LLC acquired a new stake in AbCellera Biologics in the first quarter worth about $34,000. Virtu Financial LLC acquired a new stake in AbCellera Biologics in the first quarter worth about $52,000. Finally, Invesco Ltd. boosted its holdings in AbCellera Biologics by 114.6% in the first quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock worth $54,000 after acquiring an additional 12,893 shares in the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

Analyst Upgrades and Downgrades

ABCL has been the subject of several recent analyst reports. Leerink Partners initiated coverage on AbCellera Biologics in a report on Monday, July 7th. They issued an “outperform” rating and a $5.00 price target for the company. KeyCorp raised their price target on AbCellera Biologics from $5.00 to $10.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Wall Street Zen raised AbCellera Biologics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Stifel Nicolaus decreased their target price on AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 8th. Finally, Leerink Partnrs raised AbCellera Biologics to a “strong-buy” rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.00.

AbCellera Biologics Price Performance

AbCellera Biologics stock opened at $5.03 on Wednesday. The stock has a market capitalization of $1.50 billion, a PE ratio of -9.15 and a beta of 0.64. AbCellera Biologics Inc. has a 12 month low of $1.89 and a 12 month high of $5.82. The business has a 50 day simple moving average of $4.48 and a 200-day simple moving average of $3.35.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The business had revenue of $17.08 million during the quarter, compared to analysts’ expectations of $7.55 million. AbCellera Biologics had a negative return on equity of 16.17% and a negative net margin of 511.88%. On average, equities research analysts anticipate that AbCellera Biologics Inc. will post -0.59 EPS for the current fiscal 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.