AbCellera Biologics Inc. $ABCL Holdings Lessened by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its AbCellera stake by 3.6%, selling 346,144 shares and ending the quarter with 9.22 million shares worth approximately $128.3 million. Institutional investors and hedge funds collectively own 61.42% of ABCL.
• Analyst sentiment is mixed but leans positive, with an overall “Moderate Buy” rating and an average price target of $13.89. Targets range from $12 to $30, while some firms have maintained or issued sell ratings.
• AbCellera shares recently traded at $11.80, while the company continues to report losses and missed quarterly expectations, posting a $0.18 adjusted loss per share versus the expected $0.16 loss and revenue of $4.05 million versus the $7.85 million estimate.

TD Waterhouse Canada Inc. lowered its stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,222,005 shares of the company's stock after selling 346,144 shares during the quarter. TD Waterhouse Canada Inc. owned about 3.01% of AbCellera Biologics worth $128,281,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in AbCellera Biologics in the 2nd quarter valued at $29,872,000. Bank of America Corp DE acquired a new stake in shares of AbCellera Biologics during the 2nd quarter worth $48,211,000. Hsbc Holdings PLC acquired a new stake in shares of AbCellera Biologics during the 2nd quarter worth $929,000. SEB Asset Management AB acquired a new stake in shares of AbCellera Biologics during the 1st quarter worth $1,188,000. Finally, Man Group plc bought a new position in shares of AbCellera Biologics in the second quarter worth $1,797,000. Institutional investors and hedge funds own 61.42% of the company's stock.

Analysts Set New Price Targets

ABCL has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AbCellera Biologics in a research note on Thursday. Wall Street Zen cut shares of AbCellera Biologics from a "hold" rating to a "sell" rating in a research report on Saturday, September 26th. JPMorgan Chase & Co. initiated coverage on shares of AbCellera Biologics in a research note on Tuesday, September 29th. They set an "overweight" rating and a $17.00 price objective on the stock. Truist Financial raised their target price on shares of AbCellera Biologics from $12.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Finally, Cantor Fitzgerald raised their target price on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AbCellera Biologics currently has an average rating of "Moderate Buy" and an average target price of $13.89.

AbCellera Biologics Price Performance

ABCL traded down $0.88 during trading on Friday, hitting $11.80. 4,101,192 shares of the stock traded hands, compared to its average volume of 5,480,116. The business has a 50 day moving average price of $12.01 and a 200 day moving average price of $7.66. AbCellera Biologics Inc. has a twelve month low of $2.74 and a twelve month high of $15.02. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -21.85 and a beta of 1.41.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02). The business had revenue of $4.05 million for the quarter, compared to analyst estimates of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. On average, equities research analysts predict that AbCellera Biologics Inc. will post -0.69 earnings per share for the current year.

AbCellera Biologics Profile

AbCellera Biologics Inc is a biotechnology company that develops technologies for the discovery and development of antibody medicines. Its platform combines high-throughput screening, single-cell analysis, microfluidics, data science and machine learning to identify antibodies with potential therapeutic applications.

The company works with pharmaceutical and biotechnology partners worldwide, helping them discover and advance antibody candidates for areas such as cancer, infectious diseases, autoimmune disorders and other medical conditions.

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