SEB Asset Management AB Buys Shares of 340,267 AbCellera Biologics Inc. $ABCL

SEB Asset Management AB purchased a new stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 340,267 shares of the company’s stock, valued at approximately $1,188,000.

Several other institutional investors have also modified their holdings of ABCL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of AbCellera Biologics in the fourth quarter valued at approximately $26,938,000. Goldman Sachs Group Inc. boosted its position in shares of AbCellera Biologics by 1,636.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company’s stock worth $14,858,000 after buying an additional 4,094,268 shares during the period. Bank of America Corp DE boosted its position in shares of AbCellera Biologics by 977.8% during the third quarter. Bank of America Corp DE now owns 2,418,304 shares of the company’s stock worth $12,164,000 after buying an additional 2,193,939 shares during the period. Tudor Investment Corp ET AL grew its holdings in AbCellera Biologics by 146.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company’s stock worth $6,142,000 after buying an additional 1,065,888 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in AbCellera Biologics by 25.9% in the 3rd quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company’s stock worth $26,031,000 after buying an additional 1,064,290 shares in the last quarter. Institutional investors own 61.42% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Cantor Fitzgerald started coverage on AbCellera Biologics in a research note on Tuesday, May 5th. They set an “overweight” rating and a $7.00 target price on the stock. Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. JonesTrading assumed coverage on shares of AbCellera Biologics in a research note on Friday, April 10th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, AbCellera Biologics has an average rating of “Moderate Buy” and a consensus price target of $8.00.

AbCellera Biologics Price Performance

NASDAQ ABCL opened at $5.67 on Friday. AbCellera Biologics Inc. has a 12 month low of $2.74 and a 12 month high of $8.44. The firm has a market capitalization of $1.73 billion, a PE ratio of -11.81 and a beta of 1.14. The company’s 50 day simple moving average is $6.05 and its 200 day simple moving average is $4.56.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.08. The firm had revenue of $8.31 million during the quarter, compared to the consensus estimate of $5.41 million. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.During the same period in the prior year, the firm posted ($0.15) earnings per share. Sell-side analysts anticipate that AbCellera Biologics Inc. will post -0.67 earnings per share for the current fiscal year.

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.