Two Sigma Advisers LP Acquires 430,800 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

Two Sigma Advisers LP boosted its stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 19.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,608,400 shares of the company's stock after buying an additional 430,800 shares during the quarter. Two Sigma Advisers LP owned approximately 0.88% of AbCellera Biologics worth $7,643,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ABCL. JPMorgan Chase & Co. grew its position in shares of AbCellera Biologics by 6.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 355,747 shares of the company's stock valued at $925,000 after acquiring an additional 21,483 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in AbCellera Biologics by 10.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 62,629 shares of the company's stock valued at $184,000 after acquiring an additional 5,955 shares during the period. Moloney Securities Asset Management LLC acquired a new stake in AbCellera Biologics in the 4th quarter worth about $265,000. State of New Jersey Common Pension Fund D acquired a new stake in AbCellera Biologics during the 4th quarter worth $36,000. Finally, Raymond James Financial Inc. acquired a new position in AbCellera Biologics during the fourth quarter worth $57,000. 61.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABCL. Stifel Nicolaus lowered their price target on shares of AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Benchmark reaffirmed a "hold" rating on shares of AbCellera Biologics in a report on Monday, March 3rd. KeyCorp lifted their price objective on AbCellera Biologics from $4.00 to $5.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Finally, Truist Financial lowered their target price on shares of AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, May 16th.

AbCellera Biologics Price Performance

Shares of NASDAQ ABCL traded up $0.01 during midday trading on Thursday, reaching $2.05. 714,898 shares of the company traded hands, compared to its average volume of 2,889,803. AbCellera Biologics Inc. has a 52 week low of $1.89 and a 52 week high of $4.20. The company has a market cap of $610.28 million, a price-to-earnings ratio of -3.35 and a beta of 0.46. The stock has a 50-day moving average price of $2.23 and a 200 day moving average price of $2.68.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.02. AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. The firm had revenue of $4.24 million for the quarter, compared to analyst estimates of $7.12 million. As a group, analysts expect that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

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.