Duality Advisers LP Cuts Stock Holdings in AbCellera Biologics Inc. (NASDAQ:ABCL)

Duality Advisers LP reduced its position in AbCellera Biologics Inc. (NASDAQ:ABCL) by 31.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 111,041 shares of the company’s stock after selling 51,159 shares during the period. Duality Advisers LP’s holdings in AbCellera Biologics were worth $634,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in shares of 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 in the last quarter. Signaturefd LLC boosted its stake in AbCellera Biologics by 306.3% in the 4th quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock worth $61,000 after purchasing an additional 7,988 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in AbCellera Biologics by 352.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,566 shares of the company’s stock worth $192,000 after purchasing an additional 26,143 shares in the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new stake in AbCellera Biologics in the 4th quarter worth approximately $99,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in AbCellera Biologics in the 4th quarter worth approximately $62,000. 61.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Trading Down 1.8 %

Shares of NASDAQ ABCL opened at $3.90 on Thursday. AbCellera Biologics Inc. has a 12 month low of $3.79 and a 12 month high of $8.05. The company has a 50 day simple moving average of $4.63 and a two-hundred day simple moving average of $4.81. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -7.50 and a beta of 0.36.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. The business had revenue of $9.18 million for the quarter, compared to analyst estimates of $9.58 million. Analysts forecast that AbCellera Biologics Inc. will post -0.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ABCL shares. Stifel Nicolaus lowered 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 note on Wednesday, February 21st. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Thursday, February 22nd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AbCellera Biologics presently has a consensus rating of “Buy” and a consensus target price of $15.86.

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.