AbCellera Biologics Inc. (NASDAQ:ABCL) Shares Sold by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP reduced its holdings in AbCellera Biologics Inc. by 54.7%, selling 322,318 shares during the first quarter, resulting in ownership of 266,895 shares worth approximately $595,000.
• Analysts have mixed views on AbCellera Biologics, with ratings ranging from "hold" to "strong buy," and an average target price of $8.75.
• AbCellera Biologics stock traded up 2.4% to $4.34, with a market capitalization of $1.30 billion and a year-to-date price range of $1.89 to $5.82.

GSA Capital Partners LLP lowered its holdings in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 54.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 266,895 shares of the company's stock after selling 322,318 shares during the period. GSA Capital Partners LLP owned about 0.09% of AbCellera Biologics worth $595,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in AbCellera Biologics during the fourth quarter valued at approximately $57,000. Norges Bank bought a new position in shares of AbCellera Biologics during the fourth quarter worth $3,764,000. ExodusPoint Capital Management LP purchased a new stake in AbCellera Biologics during the fourth quarter valued at $826,000. Quadrant Capital Group LLC increased its stake in AbCellera Biologics by 83.4% in the 4th quarter. Quadrant Capital Group LLC now owns 54,709 shares of the company's stock worth $160,000 after buying an additional 24,871 shares during the period. Finally, Barclays PLC increased its position in AbCellera Biologics by 72.0% during the 4th quarter. Barclays PLC now owns 38,351 shares of the company's stock valued at $112,000 after purchasing an additional 16,058 shares during the period. 61.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ABCL. KeyCorp increased their target price on shares of AbCellera Biologics from $5.00 to $10.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Leerink Partners assumed coverage on AbCellera Biologics in a research report on Monday, July 7th. They issued an "outperform" rating and a $5.00 target price for the company. Leerink Partnrs upgraded AbCellera Biologics to a "strong-buy" rating in a report on Monday, July 7th. Finally, Truist Financial lowered their price objective on AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $8.75.

AbCellera Biologics Stock Up 2.1%

Shares of AbCellera Biologics stock traded up $0.09 during trading on Thursday, hitting $4.21. 4,830,457 shares of the stock traded hands, compared to its average volume of 4,990,505. AbCellera Biologics Inc. has a 52 week low of $1.89 and a 52 week high of $5.82. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -7.46 and a beta of 0.65. The firm's fifty day moving average is $3.72 and its 200-day moving average is $2.95.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.02. AbCellera Biologics had a negative net margin of 737.56% and a negative return on equity of 15.98%. The company had revenue of $4.24 million for the quarter, compared to analyst estimates of $7.12 million. On average, analysts forecast that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.

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.