Prosight Management LP Has $21.54 Million Stock Holdings in AbCellera Biologics Inc. (NASDAQ:ABCL)

Prosight Management LP reduced its stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,350,000 shares of the company's stock after selling 1,729,539 shares during the quarter. AbCellera Biologics accounts for 6.0% of Prosight Management LP's portfolio, making the stock its 5th largest position. Prosight Management LP owned about 2.49% of AbCellera Biologics worth $21,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its position in shares of AbCellera Biologics by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 62,629 shares of the company's stock worth $184,000 after purchasing an additional 5,955 shares in the last quarter. DKM Wealth Management Inc. acquired a new position in AbCellera Biologics in the fourth quarter valued at about $29,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of AbCellera Biologics during the fourth quarter worth about $36,000. Balyasny Asset Management L.P. bought a new position in shares of AbCellera Biologics during the 4th quarter valued at about $40,000. Finally, Mariner LLC acquired a new position in shares of AbCellera Biologics in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 61.42% of the company's stock.

AbCellera Biologics Trading Up 1.7%

Shares of NASDAQ:ABCL traded up $0.04 during mid-day trading on Tuesday, hitting $2.06. 1,529,721 shares of the company traded hands, compared to its average volume of 2,872,167. AbCellera Biologics Inc. has a 12-month low of $1.89 and a 12-month high of $4.34. The stock has a market cap of $613.26 million, a P/E ratio of -3.36 and a beta of 0.46. The stock has a 50-day moving average price of $2.29 and a two-hundred day moving average price of $2.71.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. The company had revenue of $4.24 million during the quarter, compared to analyst estimates of $7.12 million. As a group, analysts expect that AbCellera Biologics Inc. will post -0.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABCL has been the topic of several analyst reports. KeyCorp upped their target price on AbCellera Biologics from $4.00 to $5.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Truist Financial reduced their price target on shares of AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday. Benchmark reaffirmed a "hold" rating on shares of AbCellera Biologics in a research report on Monday, March 3rd. Finally, Stifel Nicolaus decreased their target price on AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, February 28th.

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.