BlackRock Inc. Makes New Investment in AbCellera Biologics Inc. $ABCL

Key Points

• BlackRock acquired 3.8 million AbCellera shares worth approximately $29.9 million during the second quarter, giving it a 1.25% stake. Institutional investors collectively own 61.42% of the company.
• AbCellera’s latest quarter fell short of expectations, with a $0.18 loss per share versus the expected $0.16 loss and revenue of $4.05 million versus the $7.85 million consensus.
• Analyst sentiment remains generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $12.83, although one analyst rates it a sell.

BlackRock Inc. purchased a new position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,805,309 shares of the company's stock, valued at approximately $29,872,000. BlackRock Inc. owned 1.25% of AbCellera Biologics at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ABCL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of AbCellera Biologics in the 4th quarter valued at about $26,938,000. Two Sigma Investments LP boosted its position in shares of AbCellera Biologics by 25.9% during the third quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company's stock worth $26,031,000 after buying an additional 1,064,290 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of AbCellera Biologics by 1,636.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company's stock worth $14,858,000 after buying an additional 4,094,268 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of AbCellera Biologics by 13.9% during the first quarter. Bank of America Corp DE now owns 2,999,936 shares of the company's stock worth $10,470,000 after buying an additional 367,064 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its position in AbCellera Biologics by 146.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company's stock valued at $6,142,000 after buying an additional 1,065,888 shares during the last quarter. Institutional investors own 61.42% of the company's stock.

AbCellera Biologics Trading Down 1.7%

Shares of NASDAQ ABCL opened at $11.28 on Wednesday. The company has a market capitalization of $3.46 billion, a P/E ratio of -20.89 and a beta of 1.31. AbCellera Biologics Inc. has a 12 month low of $2.74 and a 12 month high of $12.58. The stock has a 50 day moving average of $8.14 and a 200-day moving average of $5.60.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02). The company had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. Analysts predict that AbCellera Biologics Inc. will post -0.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ABCL has been the topic of several research reports. Benchmark upgraded AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 target price on the stock in a research note on Tuesday, July 7th. Cantor Fitzgerald lifted their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Stifel Nicolaus boosted their price objective on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of AbCellera Biologics in a report on Friday, July 17th. Finally, Truist Financial raised their target price on shares of AbCellera Biologics from $12.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.83.

About AbCellera Biologics

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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