Virtus Investment Advisers LLC Trims Stock Position in AbCellera Biologics Inc. $ABCL

Virtus Investment Advisers LLC decreased its holdings in AbCellera Biologics Inc. (NASDAQ:ABCL) by 46.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,852 shares of the company’s stock after selling 25,793 shares during the quarter. Virtus Investment Advisers LLC’s holdings in AbCellera Biologics were worth $102,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in AbCellera Biologics in the second quarter valued at approximately $35,000. J2 Capital Management Inc purchased a new stake in AbCellera Biologics during the second quarter valued at about $45,000. Virtu Financial LLC acquired a new stake in AbCellera Biologics during the first quarter worth about $52,000. Invesco Ltd. raised its holdings in shares of AbCellera Biologics by 114.6% in the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock worth $54,000 after purchasing an additional 12,893 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of AbCellera Biologics by 121.3% in the 1st quarter. Allianz Asset Management GmbH now owns 25,622 shares of the company’s stock worth $60,000 after purchasing an additional 14,044 shares during the period. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

AbCellera Biologics Price Performance

NASDAQ ABCL opened at $3.77 on Friday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.61 and a beta of 0.70. AbCellera Biologics Inc. has a 12 month low of $1.89 and a 12 month high of $6.51. The company’s fifty day moving average price is $4.89 and its two-hundred day moving average price is $4.14.

AbCellera Biologics (NASDAQ:ABCL) last issued its earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The company had revenue of $6.51 million during the quarter, compared to analyst estimates of $6.33 million. AbCellera Biologics had a negative net margin of 493.42% and a negative return on equity of 17.21%. As a group, analysts anticipate that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ABCL shares. Leerink Partnrs downgraded shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Leerink Partners reiterated a “market perform” rating and set a $4.00 price objective on shares of AbCellera Biologics in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Wednesday, October 8th. Wall Street Zen cut shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Stifel Nicolaus cut their price objective on AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.75.

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.