228,979 Shares in AbCellera Biologics Inc. $ABCL Purchased by Man Group plc

Man Group plc bought a new position in AbCellera Biologics Inc. (NASDAQ:ABCL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 228,979 shares of the company’s stock, valued at approximately $1,797,000.

Several other institutional investors also recently made changes to their positions in the stock. Hsbc Holdings PLC acquired a new stake in shares of AbCellera Biologics during the 2nd quarter worth approximately $929,000. Brandywine Managers LLC acquired a new position in AbCellera Biologics during the 2nd quarter valued at approximately $224,000. Cibc World Market Inc. bought a new position in AbCellera Biologics during the 2nd quarter worth $135,000. Quantbot Technologies LP bought a new position in AbCellera Biologics during the 2nd quarter worth $628,000. Finally, Green Alpha Advisors LLC acquired a new stake in AbCellera Biologics in the second quarter worth $172,000. 61.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

AbCellera Biologics Stock Performance

NASDAQ:ABCL opened at $11.28 on Wednesday. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -20.89 and a beta of 1.31. AbCellera Biologics Inc. has a 1 year low of $2.74 and a 1 year high of $12.58. The business has a fifty day moving average of $8.14 and a 200-day moving average of $5.60.

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

About AbCellera Biologics

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.