Capital World Investors Acquires Shares of 7,933,613 AbCellera Biologics Inc. (NASDAQ:ABCL)

Capital World Investors bought a new position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,933,613 shares of the company's stock, valued at approximately $23,245,000. Capital World Investors owned approximately 2.69% of AbCellera Biologics as of its most recent SEC filing.

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

Analysts Set New Price Targets

ABCL has been the topic of a number of research reports. KeyCorp raised their price target on shares of AbCellera Biologics from $4.00 to $5.00 and gave the company 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 target on shares of AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, February 28th.

AbCellera Biologics Trading Down 1.2 %

ABCL stock traded down $0.03 during mid-day trading on Friday, reaching $2.57. The company's stock had a trading volume of 2,976,557 shares, compared to its average volume of 2,667,299. The stock has a market cap of $765.83 million, a PE ratio of -4.21 and a beta of 0.50. AbCellera Biologics Inc. has a fifty-two week low of $1.89 and a fifty-two week high of $4.34. The company's 50 day moving average is $2.44 and its two-hundred day moving average is $2.77.

AbCellera Biologics Company 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.