Baillie Gifford & Co. Has $24.97 Million Stock Position in AbCellera Biologics Inc. (NASDAQ:ABCL)

Key Points

• Baillie Gifford & Co. reduced its stake in AbCellera Biologics Inc. by 8.5%, owning approximately 3.75% of the company’s shares, valued at $24.97 million after selling over a million shares.
• Other investors, including Capital World Investors and Millennium Management LLC, have recently increased their stakes, indicating significant institutional interest in AbCellera.
• AbCellera reported earnings of ($0.15) per share, slightly beating analyst expectations, but had revenues below forecasts at $4.24 million.

Baillie Gifford & Co. reduced its stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,195,832 shares of the company's stock after selling 1,040,633 shares during the period. Baillie Gifford & Co. owned about 3.75% of AbCellera Biologics worth $24,967,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ABCL. Salem Investment Counselors Inc. boosted its stake in AbCellera Biologics by 7.0% during the first quarter. Salem Investment Counselors Inc. now owns 78,800 shares of the company's stock valued at $176,000 after buying an additional 5,150 shares in the last quarter. Pier 88 Investment Partners LLC increased its position in shares of AbCellera Biologics by 2.9% in the first quarter. Pier 88 Investment Partners LLC now owns 243,790 shares of the company's stock worth $544,000 after acquiring an additional 6,890 shares in the last quarter. DKM Wealth Management Inc. purchased a new position in AbCellera Biologics during the fourth quarter valued at approximately $29,000. Stratos Wealth Advisors LLC purchased a new position in AbCellera Biologics during the first quarter valued at approximately $27,000. Finally, Janney Montgomery Scott LLC purchased a new position in AbCellera Biologics during the first quarter valued at approximately $29,000. 61.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ABCL shares. KeyCorp boosted their price objective 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. Truist Financial reduced their price objective on shares of AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Leerink Partners assumed coverage on shares of AbCellera Biologics in a research note on Monday, July 7th. They issued an "outperform" rating and a $5.00 price objective for the company. Finally, Leerink Partnrs upgraded shares of AbCellera Biologics to a "strong-buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $8.75.

AbCellera Biologics Price Performance

Shares of NASDAQ ABCL traded up $0.03 during mid-day trading on Wednesday, hitting $4.72. The company's stock had a trading volume of 1,510,357 shares, compared to its average volume of 4,997,957. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -8.42 and a beta of 0.62. AbCellera Biologics Inc. has a one year low of $1.89 and a one year high of $5.82. The company's fifty day simple moving average is $3.43 and its 200-day simple moving average is $2.89.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its earnings results 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. The company had revenue of $4.24 million for the quarter, compared to analyst estimates of $7.12 million. AbCellera Biologics had a negative net margin of 737.56% and a negative return on equity of 15.98%. On average, sell-side analysts predict that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

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.