Ballentine Partners LLC Buys Shares of 20,732 AbCellera Biologics Inc. (NASDAQ:ABCL)

Ballentine Partners LLC bought a new stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 20,732 shares of the company’s stock, valued at approximately $54,000.

Other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in AbCellera Biologics during the first quarter valued at approximately $454,000. Renaissance Technologies LLC lifted its position in AbCellera Biologics by 16.0% during the second quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock valued at $5,117,000 after purchasing an additional 239,000 shares during the last quarter. Citizens Financial Group Inc. RI bought a new stake in AbCellera Biologics during the second quarter valued at approximately $923,000. State Board of Administration of Florida Retirement System bought a new stake in AbCellera Biologics during the first quarter valued at approximately $239,000. Finally, Headlands Technologies LLC bought a new stake in AbCellera Biologics during the second quarter valued at approximately $146,000. 61.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Stock Performance

Shares of ABCL opened at $2.78 on Thursday. The firm has a market cap of $819.17 million, a price-to-earnings ratio of -5.15 and a beta of 0.38. AbCellera Biologics Inc. has a fifty-two week low of $2.34 and a fifty-two week high of $6.05. The firm has a 50 day moving average price of $2.61 and a 200-day moving average price of $3.09.

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

Wall Street Analysts Forecast Growth

ABCL has been the subject of several research analyst reports. KeyCorp reiterated 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 report on Tuesday, August 20th.

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.