Millennium Management LLC Has $4.34 Million Stake in AbCellera Biologics Inc. (NASDAQ:ABCL)

Millennium Management LLC boosted its holdings in AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 96.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,482,715 shares of the company's stock after acquiring an additional 728,828 shares during the period. Millennium Management LLC owned about 0.50% of AbCellera Biologics worth $4,344,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. DKM Wealth Management Inc. bought a new position in AbCellera Biologics in the fourth quarter worth about $29,000. State of New Jersey Common Pension Fund D bought a new position in AbCellera Biologics in the fourth quarter worth about $36,000. Balyasny Asset Management L.P. bought a new position in AbCellera Biologics in the fourth quarter worth about $40,000. Mariner LLC bought a new stake in shares of AbCellera Biologics during the fourth quarter valued at approximately $42,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of AbCellera Biologics during the fourth quarter valued at approximately $46,000. Institutional investors own 61.42% of the company's stock.

AbCellera Biologics Stock Up 7.9%

Shares of AbCellera Biologics stock traded up $0.17 on Tuesday, hitting $2.31. 4,969,287 shares of the company traded hands, compared to its average volume of 2,930,014. The company has a 50-day moving average price of $2.21 and a 200 day moving average price of $2.65. AbCellera Biologics Inc. has a 12-month low of $1.89 and a 12-month high of $3.90. The company has a market cap of $689.36 million, a PE ratio of -3.79 and a beta of 0.46.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.02. AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. The business had revenue of $4.24 million during the quarter, compared to analyst estimates of $7.12 million. Equities research analysts anticipate that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABCL. KeyCorp lifted their price target on AbCellera Biologics from $4.00 to $5.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Benchmark reiterated a "hold" rating on shares of AbCellera Biologics in a research note on Monday, March 3rd. Stifel Nicolaus lowered 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. Finally, Truist Financial lowered their price objective on shares of AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, May 16th.

AbCellera Biologics 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.