Moloney Securities Asset Management LLC Trims Stock Position in AbCellera Biologics Inc. (NASDAQ:ABCL)

Moloney Securities Asset Management LLC decreased its position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 84.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,400 shares of the company's stock after selling 76,000 shares during the quarter. Moloney Securities Asset Management LLC's holdings in AbCellera Biologics were worth $32,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ABCL. Capital World Investors acquired a new stake in shares of AbCellera Biologics during the fourth quarter worth $23,245,000. Guardian Partners Inc. acquired a new stake in AbCellera Biologics during the 4th quarter worth approximately $5,413,000. Norges Bank acquired a new stake in AbCellera Biologics in the fourth quarter valued at approximately $3,764,000. Millennium Management LLC grew its position in AbCellera Biologics by 96.7% in the fourth quarter. Millennium Management LLC now owns 1,482,715 shares of the company's stock valued at $4,344,000 after acquiring an additional 728,828 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in AbCellera Biologics by 28.6% in the fourth quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company's stock worth $9,544,000 after purchasing an additional 723,676 shares during the period. Institutional investors and hedge funds own 61.42% of the company's stock.

AbCellera Biologics Stock Performance

Shares of AbCellera Biologics stock traded down $0.30 during trading on Tuesday, hitting $3.94. 6,741,460 shares of the company's stock were exchanged, compared to its average volume of 3,525,707. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -7.04 and a beta of 0.62. AbCellera Biologics Inc. has a 52-week low of $1.89 and a 52-week high of $4.58. The business has a 50-day simple moving average of $2.86 and a 200-day simple moving average of $2.77.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.02. AbCellera Biologics had a negative net margin of 737.56% and a negative return on equity of 15.98%. The business had revenue of $4.24 million during the quarter, compared to analyst estimates of $7.12 million. On average, equities analysts anticipate that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.