Citizens Financial Group Inc. RI Invests $923,000 in AbCellera Biologics Inc. (NASDAQ:ABCL)

Citizens Financial Group Inc. RI acquired a new stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 311,890 shares of the company’s stock, valued at approximately $923,000. Citizens Financial Group Inc. RI owned approximately 0.11% of AbCellera Biologics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABCL. Intellectus Partners LLC boosted its holdings in shares of AbCellera Biologics by 0.7% in the 2nd quarter. Intellectus Partners LLC now owns 545,533 shares of the company’s stock valued at $1,615,000 after buying an additional 3,750 shares in the last quarter. Pacifica Partners Inc. boosted its stake in AbCellera Biologics by 78.8% in the first quarter. Pacifica Partners Inc. now owns 8,619 shares of the company’s stock valued at $39,000 after acquiring an additional 3,799 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in AbCellera Biologics by 13.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,855 shares of the company’s stock worth $221,000 after purchasing an additional 4,641 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of AbCellera Biologics by 85.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,500 shares of the company’s stock worth $111,000 after purchasing an additional 9,000 shares in the last quarter. Finally, TrueMark Investments LLC lifted its holdings in shares of AbCellera Biologics by 13.5% during the 1st quarter. TrueMark Investments LLC now owns 109,957 shares of the company’s stock valued at $498,000 after purchasing an additional 13,104 shares during the last quarter. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Stock Performance

AbCellera Biologics stock opened at $2.73 on Wednesday. AbCellera Biologics Inc. has a fifty-two week low of $2.34 and a fifty-two week high of $6.05. The company has a market cap of $802.77 million, a PE ratio of -5.25 and a beta of 0.37. The business’s 50-day simple moving average is $2.80 and its two-hundred day simple moving average is $3.51.

AbCellera Biologics (NASDAQ:ABCL) last issued its earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. AbCellera Biologics had a negative return on equity of 13.40% and a negative net margin of 463.77%. The firm had revenue of $7.30 million for the quarter, compared to analyst estimates of $10.12 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. AbCellera Biologics’s revenue for the quarter was down 27.7% on a year-over-year basis. As a group, analysts predict that AbCellera Biologics Inc. will post -0.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ABCL has been the topic of several recent analyst reports. KeyCorp reaffirmed an “overweight” rating and set a $5.00 target price (down from $7.00) on shares of AbCellera Biologics in a research report on Thursday, July 11th. Benchmark lowered shares of AbCellera Biologics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.20.

AbCellera Biologics Company 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.