Two Sigma Investments LP Has $9.54 Million Stock Position in AbCellera Biologics Inc. (NASDAQ:ABCL)

Two Sigma Investments LP lifted its position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 28.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,257,311 shares of the company's stock after purchasing an additional 723,676 shares during the quarter. Two Sigma Investments LP owned approximately 1.10% of AbCellera Biologics worth $9,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its position in AbCellera Biologics by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 62,629 shares of the company's stock worth $184,000 after purchasing an additional 5,955 shares during the period. DKM Wealth Management Inc. acquired a new position in shares of AbCellera Biologics in the 4th quarter valued at $29,000. State of New Jersey Common Pension Fund D bought a new position in shares of AbCellera Biologics during the 4th quarter worth about $36,000. Balyasny Asset Management L.P. bought a new position in shares of AbCellera Biologics during the 4th quarter worth about $40,000. Finally, Mariner LLC acquired a new stake in shares of AbCellera Biologics during the 4th quarter valued at about $42,000. 61.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Trading Down 0.7%

ABCL stock traded down $0.02 during trading on Friday, hitting $2.03. 603,563 shares of the stock traded hands, compared to its average volume of 2,889,766. The stock has a market cap of $604.31 million, a price-to-earnings ratio of -3.32 and a beta of 0.46. AbCellera Biologics Inc. has a one year low of $1.89 and a one year high of $4.20. The company has a 50 day simple moving average of $2.22 and a 200 day simple moving average of $2.67.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its 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. The business had revenue of $4.24 million for the quarter, compared to the consensus estimate of $7.12 million. AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. As a group, analysts predict that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.