Alyeska Investment Group L.P. Trims Stake in AbCellera Biologics Inc. $ABCL

Key Points

• Alyeska Investment Group cut its AbCellera stake by 79.7% in the second quarter, selling 2.07 million shares and retaining 526,577 shares. Institutional investors collectively own 61.42% of ABCL.
• AbCellera reported weaker-than-expected quarterly results, with an adjusted loss of $0.18 per share versus a $0.16 consensus loss and revenue of $4.05 million versus estimates of $7.85 million.
• Analyst sentiment remains mixed but leans positive: the stock has a “Moderate Buy” consensus rating and an average price target of $12.83, while shares recently opened at $11.28 after trading between $2.74 and $12.58 over the past year.

Alyeska Investment Group L.P. lowered its position in AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 79.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 526,577 shares of the company's stock after selling 2,065,528 shares during the period. Alyeska Investment Group L.P. owned 0.17% of AbCellera Biologics worth $4,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABCL. Creative Planning boosted its holdings in shares of AbCellera Biologics by 6.9% during the 2nd quarter. Creative Planning now owns 41,003 shares of the company's stock valued at $141,000 after buying an additional 2,656 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of AbCellera Biologics by 12.9% in the 4th quarter. Advisory Services Network LLC now owns 29,664 shares of the company's stock worth $101,000 after acquiring an additional 3,386 shares in the last quarter. Raymond James Financial Inc. lifted its position in AbCellera Biologics by 17.0% during the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company's stock valued at $96,000 after acquiring an additional 4,070 shares during the period. Osaic Holdings Inc. lifted its position in AbCellera Biologics by 1.2% during the 4th quarter. Osaic Holdings Inc. now owns 347,321 shares of the company's stock valued at $1,188,000 after acquiring an additional 4,246 shares during the period. Finally, Cibc World Market Inc. boosted its stake in AbCellera Biologics by 26.5% during the fourth quarter. Cibc World Market Inc. now owns 20,706 shares of the company's stock worth $71,000 after acquiring an additional 4,341 shares in the last quarter. Hedge funds and other institutional investors own 61.42% of the company's stock.

AbCellera Biologics Stock Down 1.7%

Shares of NASDAQ ABCL opened at $11.28 on Wednesday. The company has a 50 day moving average of $8.14 and a 200 day moving average of $5.60. AbCellera Biologics Inc. has a twelve month low of $2.74 and a twelve month high of $12.58. The firm has a market cap of $3.46 billion, a P/E ratio of -20.89 and a beta of 1.31.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its 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). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%.The business had revenue of $4.05 million during the quarter, compared to the consensus estimate of $7.85 million. As a group, equities analysts expect that AbCellera Biologics Inc. will post -0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on ABCL. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AbCellera Biologics in a research note on Friday, July 17th. Cantor Fitzgerald boosted their price target on AbCellera Biologics from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Stifel Nicolaus upped their price target on AbCellera Biologics from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Wall Street Zen lowered AbCellera Biologics from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Benchmark upgraded AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 price objective for the company in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AbCellera Biologics currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.83.

AbCellera Biologics Profile

AbCellera Biologics Inc NASDAQ: ABCL is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company's technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.

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