Virtu Financial LLC Buys New Shares in AbCellera Biologics Inc. $ABCL

Virtu Financial LLC bought a new position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) during the fourth quarter, HoldingsChannel reports. The firm bought 181,031 shares of the company’s stock, valued at approximately $619,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABCL. Invesco Ltd. increased its position in shares of AbCellera Biologics by 114.6% during the first quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock valued at $54,000 after purchasing an additional 12,893 shares during the period. Geode Capital Management LLC lifted its position in AbCellera Biologics by 3.5% in the second quarter. Geode Capital Management LLC now owns 363,188 shares of the company’s stock worth $1,246,000 after purchasing an additional 12,301 shares during the period. Creative Planning raised its stake in shares of AbCellera Biologics by 6.9% in the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock valued at $141,000 after buying an additional 2,656 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of AbCellera Biologics by 17.0% during the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock worth $96,000 after acquiring an additional 4,070 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of AbCellera Biologics by 1,304.5% during the 2nd quarter. Bank of America Corp DE now owns 224,365 shares of the company’s stock valued at $770,000 after acquiring an additional 208,390 shares in the last quarter. 61.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Stock Up 3.8%

Shares of AbCellera Biologics stock opened at $5.74 on Tuesday. AbCellera Biologics Inc. has a 12-month low of $2.74 and a 12-month high of $6.79. The stock has a market capitalization of $1.75 billion, a P/E ratio of -11.96 and a beta of 1.17. The company has a 50-day simple moving average of $4.85 and a 200 day simple moving average of $4.03.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.08. The firm had revenue of $8.31 million for the quarter, compared to analyst estimates of $5.41 million. AbCellera Biologics had a negative net margin of 181.75% and a negative return on equity of 14.86%. During the same period in the previous year, the business earned ($0.15) earnings per share. On average, equities analysts anticipate that AbCellera Biologics Inc. will post -0.67 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on ABCL. JonesTrading initiated coverage on shares of AbCellera Biologics in a research report on Friday, April 10th. They issued a “buy” rating and a $11.00 price target for the company. Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Monday, April 20th. Finally, Cantor Fitzgerald assumed coverage on AbCellera Biologics in a report on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AbCellera Biologics has a consensus rating of “Moderate Buy” and an average target price of $7.80.

AbCellera Biologics Company Profile

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.