UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Purchases 11,171,063 Shares of AbCellera Biologics Inc. $ABCL

Key Points

• UBS Asset Management increased its position in AbCellera Biologics by 248.2% in Q1, now holding 15,671,063 shares worth approximately $34.9 million.
• AbCellera reported a revenue of $17.08 million for the latest quarter, significantly exceeding analysts' expectations of $7.55 million.
• Analysts currently rate AbCellera Biologics as an average of "Buy" with a target price of $8.00, up from previous estimates.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 248.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,671,063 shares of the company's stock after buying an additional 11,171,063 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 5.25% of AbCellera Biologics worth $34,946,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Northern Trust Corp grew its position in shares of AbCellera Biologics by 106.9% during the 4th quarter. Northern Trust Corp now owns 81,621 shares of the company's stock worth $239,000 after buying an additional 42,174 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in AbCellera Biologics during the 4th quarter worth about $40,000. Millennium Management LLC boosted its position in shares of AbCellera Biologics by 96.7% in the 4th quarter. Millennium Management LLC now owns 1,482,715 shares of the company's stock valued at $4,344,000 after purchasing an additional 728,828 shares during the period. Two Sigma Investments LP raised its stake in shares of AbCellera Biologics by 28.6% during the 4th quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company's stock worth $9,544,000 after buying an additional 723,676 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in AbCellera Biologics by 19.8% during the 4th quarter. Two Sigma Advisers LP now owns 2,608,400 shares of the company's stock valued at $7,643,000 after buying an additional 430,800 shares during the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

AbCellera Biologics Trading Down 4.4%

AbCellera Biologics stock traded down $0.21 during midday trading on Friday, hitting $4.51. The stock had a trading volume of 5,952,153 shares, compared to its average volume of 3,577,983. The firm's fifty day moving average is $4.42 and its two-hundred day moving average is $3.23. AbCellera Biologics Inc. has a 52-week low of $1.89 and a 52-week high of $5.82. The company has a market capitalization of $1.35 billion, a PE ratio of -8.20 and a beta of 0.64.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.05. The business had revenue of $17.08 million for the quarter, compared to analyst estimates of $7.55 million. AbCellera Biologics had a negative return on equity of 16.17% and a negative net margin of 511.88%. As a group, equities research analysts predict that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on ABCL shares. Leerink Partnrs upgraded AbCellera Biologics to a "strong-buy" rating in a research note on Monday, July 7th. Leerink Partners assumed coverage on AbCellera Biologics in a research report on Monday, July 7th. They issued an "outperform" rating and a $5.00 price target on the stock. Stifel Nicolaus cut their target price on shares of AbCellera Biologics from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Friday, August 8th. KeyCorp lifted their price target on shares of AbCellera Biologics from $5.00 to $10.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of AbCellera Biologics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, AbCellera Biologics has a consensus rating of "Buy" and an average price target of $8.00.

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.