AbCellera Biologics Inc. (NASDAQ:ABCL) Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lowered its position in AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 55.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,594 shares of the company's stock after selling 127,830 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in AbCellera Biologics were worth $306,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. DKM Wealth Management Inc. bought a new position in shares of AbCellera Biologics during the fourth quarter worth approximately $29,000. State of New Jersey Common Pension Fund D bought a new position in shares of AbCellera Biologics during the 4th quarter worth about $36,000. Mariner LLC bought a new stake in shares of AbCellera Biologics during the fourth quarter worth about $42,000. Diametric Capital LP bought a new position in AbCellera Biologics during the 4th quarter valued at $53,000. Finally, IMG Wealth Management Inc. purchased a new position in AbCellera Biologics in the fourth quarter worth $56,000. 61.42% of the stock is owned by institutional investors and hedge funds.

AbCellera Biologics Stock Down 2.1 %

ABCL stock traded down $0.06 during trading on Thursday, hitting $2.56. The company had a trading volume of 723,050 shares, compared to its average volume of 4,092,480. The firm has a market capitalization of $761.36 million, a P/E ratio of -4.19 and a beta of 0.50. AbCellera Biologics Inc. has a 52-week low of $1.89 and a 52-week high of $4.34. The company has a 50 day simple moving average of $2.40 and a 200-day simple moving average of $2.77.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ABCL shares. KeyCorp lifted their price objective on AbCellera Biologics from $4.00 to $5.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Stifel Nicolaus lowered their price target on AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Finally, Benchmark reaffirmed a "hold" rating on shares of AbCellera Biologics in a research report on Monday, March 3rd.

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.