SEB Asset Management AB Purchases New Holdings in AbCellera Biologics Inc. $ABCL

Key Points

• SEB Asset Management AB opened a new position in AbCellera Biologics during the first quarter, buying 340,267 shares worth about $1.19 million, according to its latest 13F filing.
• Institutional interest in ABCL remains notable, with several other funds increasing holdings; the article says 61.42% of the stock is owned by hedge funds and other institutional investors.
• Analyst sentiment is mixed but leans positive overall: AbCellera has a Moderate Buy consensus rating and an average price target of $8.00, while the stock recently traded at $5.67.

SEB Asset Management AB acquired a new stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 340,267 shares of the company's stock, valued at approximately $1,188,000. SEB Asset Management AB owned approximately 0.11% of AbCellera Biologics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABCL. Invesco Ltd. boosted its stake in shares of AbCellera Biologics by 114.6% during the 1st 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 last quarter. Geode Capital Management LLC increased its stake in shares of 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 buying an additional 12,301 shares during the last quarter. Creative Planning increased its stake in shares of 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 buying an additional 2,656 shares during the last quarter. Raymond James Financial Inc. raised its holdings in AbCellera Biologics by 17.0% in the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company's stock valued at $96,000 after acquiring an additional 4,070 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in AbCellera Biologics by 1,304.5% in the second quarter. Bank of America Corp DE now owns 224,365 shares of the company's stock valued at $770,000 after acquiring an additional 208,390 shares in the last quarter. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JonesTrading assumed coverage on shares of AbCellera Biologics in a report on Friday, April 10th. They set a "buy" rating and a $11.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Wall Street Zen downgraded AbCellera Biologics from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Benchmark raised AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 price objective for the company in a report on Tuesday, July 7th. Finally, Cantor Fitzgerald began coverage on AbCellera Biologics in a research note on Tuesday, May 5th. They set an "overweight" rating and a $7.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $8.00.

AbCellera Biologics Stock Performance

AbCellera Biologics stock opened at $5.67 on Friday. AbCellera Biologics Inc. has a 1 year low of $2.74 and a 1 year high of $8.44. The firm's 50-day moving average is $6.05 and its 200-day moving average is $4.56. The company has a market cap of $1.73 billion, a P/E ratio of -11.81 and a beta of 1.14.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.08. AbCellera Biologics had a negative net margin of 181.75% and a negative return on equity of 14.86%. The business had revenue of $8.31 million during the quarter, compared to the consensus estimate of $5.41 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. As a group, sell-side analysts predict that AbCellera Biologics Inc. will post -0.67 earnings per share for the current year.

AbCellera Biologics Company 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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