State Street Corp Purchases 4,679 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

State Street Corp grew its position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,229 shares of the company’s stock after acquiring an additional 4,679 shares during the quarter. State Street Corp owned about 0.11% of AbCellera Biologics worth $840,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ABCL. Resolute Advisors LLC grew its position in AbCellera Biologics by 7.0% in the 3rd quarter. Resolute Advisors LLC now owns 61,576 shares of the company’s stock valued at $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% in the third 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. Arcadia Investment Management Corp MI acquired a new position in shares of AbCellera Biologics during the third quarter valued at about $26,000. Evergreen Capital Management LLC bought a new stake in shares of AbCellera Biologics during the second quarter worth about $32,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of AbCellera Biologics by 104.8% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company’s stock worth $64,000 after acquiring an additional 11,000 shares during the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.

AbCellera Biologics Price Performance

NASDAQ ABCL opened at $3.03 on Friday. The company has a fifty day moving average price of $2.85 and a 200-day moving average price of $2.79. The firm has a market cap of $894.96 million, a price-to-earnings ratio of -4.97 and a beta of 0.41. AbCellera Biologics Inc. has a 1 year low of $2.34 and a 1 year high of $6.05.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. The firm had revenue of $6.51 million during the quarter, compared to the consensus estimate of $8.95 million. During the same period in the previous year, the company posted ($0.10) earnings per share. On average, research analysts anticipate that AbCellera Biologics Inc. will post -0.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on ABCL. Stifel Nicolaus reiterated a “buy” rating and set a $12.00 price target (down previously from $14.00) on shares of AbCellera Biologics in a research note on Tuesday, November 5th. Benchmark restated a “hold” rating on shares of AbCellera Biologics in a report on Tuesday, November 5th.

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.