Citizens Financial Group Inc. RI Acquires Shares of 261,890 AbCellera Biologics Inc. $ABCL

Citizens Financial Group Inc. RI bought a new position in AbCellera Biologics Inc. (NASDAQ:ABCL) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 261,890 shares of the company’s stock, valued at approximately $1,317,000. Citizens Financial Group Inc. RI owned about 0.09% of AbCellera Biologics as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in AbCellera Biologics in the second quarter worth about $2,164,000. Ballentine Partners LLC bought a new stake in shares of AbCellera Biologics in the 2nd quarter worth approximately $81,000. Bank of Montreal Can lifted its stake in AbCellera Biologics by 46.2% in the second quarter. Bank of Montreal Can now owns 70,089 shares of the company’s stock valued at $240,000 after purchasing an additional 22,155 shares during the last quarter. State of Michigan Retirement System bought a new position in AbCellera Biologics during the second quarter valued at $169,000. Finally, J2 Capital Management Inc purchased a new stake in AbCellera Biologics in the second quarter worth $45,000. 61.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Trading Up 0.5%

ABCL stock opened at $4.29 on Thursday. The firm has a 50 day moving average of $3.72 and a 200-day moving average of $4.38. The firm has a market capitalization of $1.28 billion, a P/E ratio of -7.53 and a beta of 0.73. AbCellera Biologics Inc. has a 12 month low of $1.89 and a 12 month high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%.The firm had revenue of $6.51 million during the quarter, compared to the consensus estimate of $6.33 million. Sell-side analysts predict that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on ABCL shares. Wall Street Zen raised AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Monday. Leerink Partners reiterated a “market perform” rating and issued a $4.00 target price on shares of AbCellera Biologics in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Wednesday, October 8th. Finally, Leerink Partnrs downgraded shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AbCellera Biologics has an average rating of “Hold” and a consensus price target of $7.75.

About AbCellera Biologics

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.