AbCellera Biologics (NASDAQ:ABCL - Free Report) had its target price raised by KeyCorp from $4.00 to $5.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.
ABCL has been the subject of a number of other research reports. Benchmark reiterated a "hold" rating on shares of AbCellera Biologics in a research report on Monday, March 3rd. Stifel Nicolaus cut their price objective on shares of AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, February 28th.
Check Out Our Latest Stock Report on AbCellera Biologics
AbCellera Biologics Trading Up 0.8 %
Shares of ABCL stock traded up $0.02 during mid-day trading on Wednesday, reaching $2.44. The stock had a trading volume of 2,620,802 shares, compared to its average volume of 2,621,922. AbCellera Biologics has a 12-month low of $1.89 and a 12-month high of $4.34. The company has a market cap of $727.09 million, a P/E ratio of -4.00 and a beta of 0.50. The business has a 50-day simple moving average of $2.51 and a 200 day simple moving average of $2.77.
Institutional Trading of AbCellera Biologics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital World Investors acquired a new position in shares of AbCellera Biologics in the 4th quarter valued at $23,245,000. Guardian Partners Inc. purchased a new position in shares of AbCellera Biologics in the 4th quarter worth about $5,413,000. Norges Bank acquired a new position in shares of AbCellera Biologics in the 4th quarter valued at about $3,764,000. Millennium Management LLC grew its holdings in shares of AbCellera Biologics by 96.7% during the 4th quarter. Millennium Management LLC now owns 1,482,715 shares of the company's stock worth $4,344,000 after purchasing an additional 728,828 shares during the period. Finally, Two Sigma Investments LP raised its holdings in AbCellera Biologics by 28.6% in the fourth quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company's stock valued at $9,544,000 after buying an additional 723,676 shares during the period. Hedge funds and other institutional investors own 61.42% of the company's stock.
About AbCellera Biologics
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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.
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