Lazard Asset Management LLC Sells 167,981 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

Lazard Asset Management LLC reduced its position in AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 15.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 928,594 shares of the company's stock after selling 167,981 shares during the period. Lazard Asset Management LLC owned 0.31% of AbCellera Biologics worth $2,720,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABCL. JPMorgan Chase & Co. increased its stake in shares of AbCellera Biologics by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 355,747 shares of the company's stock valued at $925,000 after buying an additional 21,483 shares during the period. China Universal Asset Management Co. Ltd. grew its stake 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 during the period. Moloney Securities Asset Management LLC acquired a new stake in shares of AbCellera Biologics during the fourth quarter worth $265,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of AbCellera Biologics during the fourth quarter worth $36,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of AbCellera Biologics during the fourth quarter worth $57,000. 61.42% of the stock is owned by institutional investors and hedge funds.

AbCellera Biologics Stock Performance

ABCL stock traded down $0.01 during midday trading on Thursday, hitting $1.99. 855,174 shares of the company's stock were exchanged, compared to its average volume of 2,882,088. The stock's fifty day moving average price is $2.28 and its 200-day moving average price is $2.70. The company has a market cap of $592.37 million, a PE ratio of -3.25 and a beta of 0.46. AbCellera Biologics Inc. has a one year low of $1.89 and a one year high of $4.34.

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

Wall Street Analysts Forecast Growth

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

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.