China Universal Asset Management Co. Ltd. Buys 22,128 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

China Universal Asset Management Co. Ltd. raised its stake in AbCellera Biologics Inc. (NASDAQ:ABCL) by 64.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,674 shares of the company’s stock after purchasing an additional 22,128 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in AbCellera Biologics were worth $147,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ABCL. Baker BROS. Advisors LP grew its stake in shares of AbCellera Biologics by 20.1% in the first quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock valued at $124,691,000 after buying an additional 4,615,887 shares in the last quarter. Renaissance Technologies LLC lifted its stake in AbCellera Biologics by 16.0% in the second quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock valued at $5,117,000 after acquiring an additional 239,000 shares during the last quarter. Intellectus Partners LLC grew its position 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 acquiring an additional 3,750 shares during the period. Citizens Financial Group Inc. RI acquired a new position in shares of AbCellera Biologics during the 2nd quarter worth about $923,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in AbCellera Biologics by 104.9% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company’s stock valued at $913,000 after purchasing an additional 158,000 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Benchmark downgraded AbCellera Biologics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. KeyCorp restated an “overweight” rating and issued a $5.00 price target (down previously from $7.00) on shares of AbCellera Biologics in a research note on Thursday, July 11th.

AbCellera Biologics Stock Down 1.8 %

AbCellera Biologics stock opened at $2.73 on Friday. AbCellera Biologics Inc. has a twelve month low of $2.34 and a twelve month high of $6.05. The stock has a market cap of $804.44 million, a P/E ratio of -5.06 and a beta of 0.38. The company’s 50-day moving average price is $2.62 and its two-hundred day moving average price is $3.09.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The business had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $10.12 million. AbCellera Biologics had a negative return on equity of 13.40% and a negative net margin of 463.77%. The firm’s revenue for the quarter was down 27.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.11) EPS. Equities analysts anticipate that AbCellera Biologics Inc. will post -0.55 earnings per share for the current fiscal year.

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.