Skandinaviska Enskilda Banken AB publ Boosts Position in AbCellera Biologics Inc. (NASDAQ:ABCL)

Skandinaviska Enskilda Banken AB publ boosted its position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 104.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 308,567 shares of the company’s stock after acquiring an additional 158,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.10% of AbCellera Biologics worth $913,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baker BROS. Advisors LP raised 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 worth $124,691,000 after buying an additional 4,615,887 shares during the period. Citizens Financial Group Inc. RI bought a new position in shares of AbCellera Biologics in the second quarter worth about $923,000. Renaissance Technologies LLC raised its stake in shares of AbCellera Biologics by 16.0% in the second quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock worth $5,117,000 after buying an additional 239,000 shares during the period. Pier 88 Investment Partners LLC raised its stake in shares of AbCellera Biologics by 362.0% in the second quarter. Pier 88 Investment Partners LLC now owns 161,620 shares of the company’s stock worth $478,000 after buying an additional 126,640 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of AbCellera Biologics in the first quarter worth about $454,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ABCL shares. Benchmark downgraded AbCellera Biologics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. KeyCorp reiterated an “overweight” rating and set a $5.00 target price (down previously from $7.00) on shares of AbCellera Biologics in a research report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.20.

AbCellera Biologics Trading Down 4.2 %

NASDAQ:ABCL opened at $2.48 on Tuesday. AbCellera Biologics Inc. has a 12-month low of $2.34 and a 12-month high of $6.05. The stock has a 50-day moving average price of $2.78 and a 200 day moving average price of $3.47. The stock has a market capitalization of $729.25 million, a P/E ratio of -4.77 and a beta of 0.37.

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, beating 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 quarter last year, the business posted ($0.11) EPS. On average, research analysts predict 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.