Geode Capital Management LLC Sells 201,213 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

Geode Capital Management LLC lowered its stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 63.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,653 shares of the company’s stock after selling 201,213 shares during the period. Geode Capital Management LLC’s holdings in AbCellera Biologics were worth $295,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Resolute Advisors LLC grew its holdings 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 buying an additional 4,050 shares in the last quarter. NBC Securities Inc. lifted its position 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 worth $29,000 after buying an additional 4,100 shares during the last quarter. State Street Corp raised its position in AbCellera Biologics by 1.5% in the third quarter. State Street Corp now owns 323,229 shares of the company’s stock valued at $840,000 after purchasing an additional 4,679 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in AbCellera Biologics in the third quarter valued at about $26,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of AbCellera Biologics in the second quarter valued at about $32,000. Institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

NASDAQ:ABCL opened at $3.00 on Tuesday. The company has a market capitalization of $886.10 million, a P/E ratio of -4.92 and a beta of 0.40. AbCellera Biologics Inc. has a 1 year low of $2.34 and a 1 year high of $5.62. The business has a fifty day simple moving average of $2.90 and a two-hundred day simple moving average of $2.80.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ABCL shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $12.00 target price (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. Finally, KeyCorp dropped their price target on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th.

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.