Sanctuary Advisors LLC Sells 10,808 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

Sanctuary Advisors LLC cut its stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 95,116 shares of the company’s stock after selling 10,808 shares during the quarter. Sanctuary Advisors LLC’s holdings in AbCellera Biologics were worth $263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Resolute Advisors LLC boosted its position in shares of AbCellera Biologics by 7.0% in the third quarter. Resolute Advisors LLC now owns 61,576 shares of the company’s stock worth $160,000 after purchasing an additional 4,050 shares during the period. NBC Securities Inc. lifted its stake in shares of AbCellera Biologics by 56.0% during the 3rd quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock valued at $29,000 after buying an additional 4,100 shares in the last quarter. State Street Corp boosted its holdings in AbCellera Biologics by 1.5% in the 3rd quarter. State Street Corp now owns 323,229 shares of the company’s stock worth $840,000 after buying an additional 4,679 shares during the period. Arcadia Investment Management Corp MI bought a new position in AbCellera Biologics in the 3rd quarter worth $26,000. Finally, Evergreen Capital Management LLC purchased a new stake in AbCellera Biologics in the 2nd quarter worth $32,000. 61.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Benchmark restated a “hold” rating on shares of AbCellera Biologics in a research report on Tuesday, November 5th. Stifel Nicolaus restated a “buy” rating and issued a $12.00 price target (down from $14.00) on shares of AbCellera Biologics in a research note on Tuesday, November 5th.

AbCellera Biologics Stock Down 1.3 %

ABCL opened at $2.99 on Friday. AbCellera Biologics Inc. has a 52 week low of $2.34 and a 52 week high of $6.05. The firm has a 50-day simple moving average of $2.85 and a two-hundred day simple moving average of $2.80. The company has a market capitalization of $883.14 million, a PE ratio of -4.90 and a beta of 0.41.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $6.51 million for the quarter, compared to analysts’ expectations of $8.95 million. AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. During the same quarter in the prior year, the business earned ($0.10) EPS. As a group, sell-side analysts expect that AbCellera Biologics Inc. will post -0.59 earnings per share for the current 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.