Cookson Peirce & Co. Inc. Takes Position in AbCellera Biologics Inc. $ABCL

Key Points

• Cookson Peirce & Co. acquired 100,000 AbCellera shares during the second quarter, valued at approximately $785,000. Institutional investors and hedge funds collectively own 61.42% of the company.
• AbCellera reported weaker-than-expected quarterly results, with a $0.18 loss per share versus the $0.16 consensus loss and revenue of $4.05 million versus estimates of $7.85 million. Analysts expect a full-year loss of $0.68 per share.
• Despite the earnings shortfall, analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and a $12.83 average price target, compared with its recent price of $11.35.

Cookson Peirce & Co. Inc. acquired a new stake in AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 100,000 shares of the company's stock, valued at approximately $785,000.

Other hedge funds have also recently bought and sold shares of the company. AssuredPartners Investment Advisors LLC purchased a new stake in AbCellera Biologics during the fourth quarter worth about $34,000. Voleon Capital Management LP acquired a new position in shares of AbCellera Biologics in the third quarter valued at approximately $56,000. Engineers Gate Manager LP purchased a new stake in AbCellera Biologics during the 4th quarter worth approximately $38,000. Allworth Financial LP increased its stake in AbCellera Biologics by 857.0% during the 4th quarter. Allworth Financial LP now owns 11,274 shares of the company's stock worth $39,000 after buying an additional 10,096 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in AbCellera Biologics during the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 61.42% of the company's stock.

AbCellera Biologics Price Performance

ABCL opened at $11.35 on Monday. AbCellera Biologics Inc. has a 52 week low of $2.74 and a 52 week high of $12.58. The business's 50 day moving average is $7.92 and its two-hundred day moving average is $5.48. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -21.02 and a beta of 1.20.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ABCL. Stifel Nicolaus increased their price objective on AbCellera Biologics from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Cantor Fitzgerald increased their price target on AbCellera Biologics from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. 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. Truist Financial upped their target price on shares of AbCellera Biologics from $12.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of AbCellera Biologics in a research note on Friday, July 17th. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, AbCellera Biologics has a consensus 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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