ExodusPoint Capital Management LP Invests $826,000 in AbCellera Biologics Inc. (NASDAQ:ABCL)

ExodusPoint Capital Management LP purchased a new stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 281,795 shares of the company's stock, valued at approximately $826,000. ExodusPoint Capital Management LP owned approximately 0.10% of AbCellera Biologics as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. DKM Wealth Management Inc. purchased a new stake in shares of AbCellera Biologics in the 4th quarter worth about $29,000. Diametric Capital LP purchased a new stake in AbCellera Biologics in the fourth quarter worth about $53,000. Pier 88 Investment Partners LLC increased its stake in shares of AbCellera Biologics by 21.2% during the fourth quarter. Pier 88 Investment Partners LLC now owns 236,900 shares of the company's stock valued at $694,000 after purchasing an additional 41,400 shares in the last quarter. DnB Asset Management AS lifted its holdings in shares of AbCellera Biologics by 424.7% during the fourth quarter. DnB Asset Management AS now owns 305,579 shares of the company's stock valued at $895,000 after purchasing an additional 247,342 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of AbCellera Biologics in the 4th quarter worth approximately $3,764,000. Institutional investors own 61.42% of the company's stock.

AbCellera Biologics Stock Performance

Shares of NASDAQ ABCL traded down $0.01 during midday trading on Wednesday, hitting $2.43. 851,082 shares of the company's stock traded hands, compared to its average volume of 2,580,905. The firm has a fifty day moving average of $2.55 and a 200 day moving average of $2.77. The stock has a market capitalization of $722.62 million, a price-to-earnings ratio of -3.98 and a beta of 0.50. AbCellera Biologics Inc. has a 1 year low of $1.89 and a 1 year high of $4.34.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Benchmark restated a "hold" rating on shares of AbCellera Biologics in a report on Monday, March 3rd. Stifel Nicolaus lowered their price objective on AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, KeyCorp boosted their price target on AbCellera Biologics from $4.00 to $5.00 and gave the stock an "overweight" rating in a research note on Wednesday.

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.