Headlands Technologies LLC Buys 63,596 Shares of AbCellera Biologics Inc. $ABCL

Headlands Technologies LLC raised its stake in AbCellera Biologics Inc. (NASDAQ:ABCL) by 34.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 246,252 shares of the company’s stock after acquiring an additional 63,596 shares during the period. Headlands Technologies LLC owned approximately 0.08% of AbCellera Biologics worth $1,933,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research firms have recently commented on ABCL. Wall Street Zen cut shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Truist Financial boosted their price objective on shares of AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Cantor Fitzgerald upped their price objective on AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Finally, Stifel Nicolaus increased their target price on AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.83.

AbCellera Biologics Price Performance

NASDAQ ABCL opened at $11.48 on Tuesday. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -21.26 and a beta of 1.20. AbCellera Biologics Inc. has a 1-year low of $2.74 and a 1-year high of $12.58. The business’s fifty day moving average price is $8.03 and its 200-day moving average price is $5.54.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The firm had revenue of $4.05 million during the quarter, compared to the consensus estimate of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. Equities research analysts anticipate that AbCellera Biologics Inc. will post -0.68 EPS for the current year.

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.