AbCellera Biologics Inc. (NASDAQ:ABCL) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 59.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 916,237 shares of the company's stock after selling 1,366,459 shares during the period. Federated Hermes Inc. owned approximately 0.31% of AbCellera Biologics worth $2,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABCL. Quadrant Capital Group LLC boosted its holdings in shares of AbCellera Biologics by 83.4% in the 4th quarter. Quadrant Capital Group LLC now owns 54,709 shares of the company's stock valued at $160,000 after acquiring an additional 24,871 shares during the last quarter. RPO LLC purchased a new position in shares of AbCellera Biologics during the 4th quarter valued at about $61,000. ExodusPoint Capital Management LP purchased a new stake in shares of AbCellera Biologics in the fourth quarter worth about $826,000. DKM Wealth Management Inc. acquired a new stake in AbCellera Biologics during the fourth quarter worth about $29,000. Finally, Diametric Capital LP purchased a new position in AbCellera Biologics during the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 61.42% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ABCL shares. Stifel Nicolaus dropped their price objective 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. KeyCorp increased their price target on shares of AbCellera Biologics from $4.00 to $5.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Benchmark reaffirmed a "hold" rating on shares of AbCellera Biologics in a report on Monday, March 3rd.

AbCellera Biologics Trading Up 1.3 %

ABCL traded up $0.03 during trading on Friday, hitting $2.42. The company's stock had a trading volume of 2,975,723 shares, compared to its average volume of 2,607,429. The firm has a market capitalization of $721.13 million, a price-to-earnings ratio of -3.97 and a beta of 0.50. AbCellera Biologics Inc. has a twelve month low of $1.89 and a twelve month high of $4.34. The business's fifty day simple moving average is $2.52 and its 200 day simple 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.