GSA Capital Partners LLP Purchases Shares of 211,370 AbCellera Biologics Inc. $ABCL

Key Points

• GSA Capital Partners acquired 211,370 AbCellera Biologics shares valued at approximately $1.66 million, representing a 0.07% stake. Institutional investors collectively own 61.42% of the company.
• Analyst sentiment is generally positive, with AbCellera receiving a consensus “Moderate Buy” rating and an average price target of $12.83; several analysts recently raised their targets, including Truist Financial to $30.
• AbCellera shares opened at $11.38, near their 52-week high of $11.50, despite the company reporting a quarterly loss of $0.18 per share and revenue of $4.05 million, below analyst expectations.

GSA Capital Partners LLP acquired a new position 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 institutional investor acquired 211,370 shares of the company's stock, valued at approximately $1,659,000. GSA Capital Partners LLP owned 0.07% of AbCellera Biologics 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. Invesco Ltd. grew its position in AbCellera Biologics by 114.6% during the first quarter. Invesco Ltd. now owns 24,146 shares of the company's stock valued at $54,000 after buying an additional 12,893 shares during the period. Geode Capital Management LLC raised its position in AbCellera Biologics by 3.5% in the second quarter. Geode Capital Management LLC now owns 363,188 shares of the company's stock worth $1,246,000 after acquiring an additional 12,301 shares during the period. Creative Planning raised its position in AbCellera Biologics by 6.9% in the second quarter. Creative Planning now owns 41,003 shares of the company's stock worth $141,000 after acquiring an additional 2,656 shares during the period. Raymond James Financial Inc. boosted its stake in shares of AbCellera Biologics by 17.0% during the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company's stock worth $96,000 after acquiring an additional 4,070 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of AbCellera Biologics by 1,304.5% during the 2nd quarter. Bank of America Corp DE now owns 224,365 shares of the company's stock worth $770,000 after acquiring an additional 208,390 shares during the last quarter. Hedge funds and other institutional investors own 61.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ABCL shares. 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. Wall Street Zen downgraded AbCellera Biologics from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of AbCellera Biologics in a report on Friday, July 17th. Truist Financial upped their price target on AbCellera Biologics from $12.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Finally, Cantor Fitzgerald raised their price objective on AbCellera Biologics from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AbCellera Biologics has an average rating of "Moderate Buy" and a consensus price target of $12.83.

AbCellera Biologics Price Performance

Shares of NASDAQ ABCL opened at $11.38 on Monday. The stock has a market cap of $3.49 billion, a PE ratio of -21.07 and a beta of 1.20. AbCellera Biologics Inc. has a 1 year low of $2.74 and a 1 year high of $11.50. The firm has a fifty day moving average price of $6.65 and a 200-day moving average price of $4.91.

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

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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