AbCellera Biologics’ (ABCL) Hold Rating Reaffirmed at Benchmark

Benchmark reaffirmed their hold rating on shares of AbCellera Biologics (NASDAQ:ABCL) in a report published on Monday morning,Benzinga reports.

Several other equities research analysts have also commented on ABCL. Stifel Nicolaus decreased their price objective on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday. KeyCorp cut their target price on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th.

AbCellera Biologics Stock Performance

ABCL opened at $2.36 on Monday. The company has a market cap of $697.06 million, a price-to-earnings ratio of -3.87 and a beta of 0.42. AbCellera Biologics has a one year low of $2.31 and a one year high of $5.13. The business’s fifty day moving average is $3.09 and its two-hundred day moving average is $2.84.

Institutional Trading of AbCellera Biologics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors purchased a new stake in AbCellera Biologics during the 4th quarter worth about $23,245,000. Guardian Partners Inc. purchased a new stake in shares of AbCellera Biologics during the fourth quarter worth about $5,413,000. Norges Bank acquired a new position in shares of AbCellera Biologics in the fourth quarter valued at approximately $3,764,000. Millennium Management LLC lifted its stake in shares of AbCellera Biologics by 96.7% during the fourth quarter. Millennium Management LLC now owns 1,482,715 shares of the company’s stock valued at $4,344,000 after buying an additional 728,828 shares during the period. Finally, Two Sigma Investments LP lifted its stake in shares of AbCellera Biologics by 28.6% during the fourth quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company’s stock valued at $9,544,000 after buying an additional 723,676 shares during the period. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

About AbCellera Biologics

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.