TrueMark Investments LLC Lowers Stock Position in AbCellera Biologics Inc. $ABCL

TrueMark Investments LLC lessened its holdings in AbCellera Biologics Inc. (NASDAQ:ABCL) by 3.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 111,119 shares of the company’s stock after selling 4,272 shares during the period. TrueMark Investments LLC’s holdings in AbCellera Biologics were worth $381,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of AbCellera Biologics by 248.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,671,063 shares of the company’s stock worth $34,946,000 after acquiring an additional 11,171,063 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of AbCellera Biologics during the 2nd quarter worth approximately $81,000. Allianz Asset Management GmbH raised its stake in shares of AbCellera Biologics by 121.3% during the 1st quarter. Allianz Asset Management GmbH now owns 25,622 shares of the company’s stock worth $60,000 after acquiring an additional 14,044 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of AbCellera Biologics during the 1st quarter worth approximately $29,000. Finally, Stratos Wealth Advisors LLC bought a new position in shares of AbCellera Biologics during the 1st quarter worth approximately $27,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Wednesday, October 8th. Leerink Partners started coverage on shares of AbCellera Biologics in a research note on Monday, July 7th. They set an “outperform” rating and a $5.00 price objective for the company. Wall Street Zen raised shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, KeyCorp boosted their target price on shares of AbCellera Biologics from $5.00 to $10.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.00.

AbCellera Biologics Trading Down 4.3%

NASDAQ:ABCL opened at $5.59 on Monday. The company’s 50 day moving average is $4.81 and its two-hundred day moving average is $3.68. The company has a market cap of $1.67 billion, a PE ratio of -10.16 and a beta of 0.69. AbCellera Biologics Inc. has a twelve month low of $1.89 and a twelve month high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.05. The business had revenue of $17.08 million for the quarter, compared to the consensus estimate of $7.55 million. AbCellera Biologics had a negative net margin of 511.88% and a negative return on equity of 16.17%. As a group, analysts expect that AbCellera Biologics Inc. will post -0.59 EPS for the current fiscal year.

AbCellera Biologics Company 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.