ProShare Advisors LLC raised its holdings in AbCellera Biologics Inc. (NASDAQ:ABCL – Get Rating) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,814 shares of the company's stock after buying an additional 1,391 shares during the period. ProShare Advisors LLC's holdings in AbCellera Biologics were worth $463,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Worth Asset Management LLC purchased a new position in shares of AbCellera Biologics during the first quarter worth about $25,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of AbCellera Biologics during the third quarter worth about $26,000. National Bank of Canada FI grew its holdings in shares of AbCellera Biologics by 69.3% during the third quarter. National Bank of Canada FI now owns 2,700 shares of the company's stock worth $27,000 after purchasing an additional 1,105 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of AbCellera Biologics during the third quarter worth about $52,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of AbCellera Biologics during the second quarter worth about $67,000. Hedge funds and other institutional investors own 42.19% of the company's stock.
Get AbCellera Biologics alerts:AbCellera Biologics Stock Up 1.5 %
Shares of NASDAQ:ABCL opened at $11.18 on Friday. The company has a market cap of $3.20 billion, a P/E ratio of 14.15 and a beta of -0.16. AbCellera Biologics Inc. has a 52 week low of $5.42 and a 52 week high of $14.97. The company has a 50-day moving average price of $10.59 and a 200 day moving average price of $11.11.
AbCellera Biologics (NASDAQ:ABCL – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The firm had revenue of $101.38 million during the quarter, compared to analyst estimates of $77.19 million. AbCellera Biologics had a net margin of 41.17% and a return on equity of 21.15%. Analysts expect that AbCellera Biologics Inc. will post 0.62 EPS for the current year.Insider Activity
In related news, major shareholder Holdings Ltd. Thermopylae purchased 85,102 shares of AbCellera Biologics stock in a transaction dated Friday, December 16th. The stock was bought at an average cost of $10.10 per share, for a total transaction of $859,530.20. Following the transaction, the insider now owns 55,859,493 shares in the company, valued at $564,180,879.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 30.30% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the company. Piper Sandler dropped their price objective on AbCellera Biologics from $22.00 to $21.00 in a report on Tuesday, November 1st. The Goldman Sachs Group initiated coverage on AbCellera Biologics in a report on Thursday, December 15th. They set a "buy" rating and a $30.00 price target on the stock. SVB Leerink lowered their price target on AbCellera Biologics from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, January 6th. Finally, Truist Financial initiated coverage on AbCellera Biologics in a report on Wednesday, November 16th. They set a "buy" rating and a $29.00 price target on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $28.67.
AbCellera Biologics Company Profile
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AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, artificial intelligence-powered antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed as drugs. As of December 31, 2021, the company had 156 discovery programs that are either completed, in progress, or under contract with 36 partners.
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