Baillie Gifford & Co. Reduces Stake in AbCellera Biologics Inc. (NASDAQ:ABCL)

Baillie Gifford & Co. decreased its holdings in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 5.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,236,465 shares of the company’s stock after selling 658,238 shares during the quarter. Baillie Gifford & Co.’s holdings in AbCellera Biologics were worth $35,853,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABCL. Arcadia Investment Management Corp MI acquired a new stake in AbCellera Biologics during the third quarter worth approximately $26,000. NBC Securities Inc. raised its stake in AbCellera Biologics by 56.0% during the 3rd quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock worth $29,000 after acquiring an additional 4,100 shares in the last quarter. Ballentine Partners LLC purchased a new stake in AbCellera Biologics in the third quarter valued at $54,000. Clarkston Capital Partners LLC purchased a new stake in AbCellera Biologics in the third quarter valued at $57,000. Finally, B. Riley Wealth Advisors Inc. boosted its stake in AbCellera Biologics by 58.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 34,000 shares of the company’s stock valued at $88,000 after acquiring an additional 12,500 shares in the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.

AbCellera Biologics Stock Up 4.1 %

Shares of ABCL stock opened at $3.27 on Tuesday. The stock’s 50-day moving average price is $3.06 and its 200 day moving average price is $2.82. The stock has a market capitalization of $965.86 million, a PE ratio of -5.36 and a beta of 0.42. AbCellera Biologics Inc. has a 52-week low of $2.34 and a 52-week high of $5.45.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and issued a $12.00 target price (down from $14.00) on shares of AbCellera Biologics in a report on Tuesday, November 5th. Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a report on Tuesday, November 5th. Finally, KeyCorp cut their target price on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th.

About AbCellera Biologics

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.