Duality Advisers LP Reduces Stock Holdings in AbCellera Biologics Inc. (NASDAQ:ABCL)

Duality Advisers LP reduced its stake in AbCellera Biologics Inc. (NASDAQ:ABCL) by 31.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,041 shares of the company’s stock after selling 51,159 shares during the period. Duality Advisers LP’s holdings in AbCellera Biologics were worth $634,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ABCL. National Bank of Canada FI increased its stake in AbCellera Biologics by 392.7% in the third quarter. National Bank of Canada FI now owns 6,085 shares of the company’s stock valued at $27,000 after purchasing an additional 4,850 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of AbCellera Biologics in the third quarter valued at approximately $46,000. Cedar Brook Financial Partners LLC boosted its holdings in shares of AbCellera Biologics by 19.8% in the third quarter. Cedar Brook Financial Partners LLC now owns 30,250 shares of the company’s stock valued at $139,000 after acquiring an additional 5,000 shares during the period. Stratos Wealth Advisors LLC acquired a new stake in shares of AbCellera Biologics in the third quarter valued at approximately $223,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of AbCellera Biologics by 33.8% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 62,759 shares of the company’s stock valued at $289,000 after acquiring an additional 15,870 shares during the period. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABCL has been the subject of several recent research reports. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a report on Thursday, February 22nd. Stifel Nicolaus decreased their price target on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, AbCellera Biologics currently has a consensus rating of “Buy” and an average target price of $15.86.

AbCellera Biologics Stock Performance

NASDAQ:ABCL opened at $3.90 on Thursday. The stock has a fifty day moving average price of $4.63 and a two-hundred day moving average price of $4.81. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -7.50 and a beta of 0.36. AbCellera Biologics Inc. has a 1 year low of $3.79 and a 1 year high of $8.05.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The business had revenue of $9.18 million during the quarter, compared to analysts’ expectations of $9.58 million. AbCellera Biologics had a negative return on equity of 12.36% and a negative net margin of 384.99%. On average, analysts predict that AbCellera Biologics Inc. will post -0.66 EPS for the current year.

About AbCellera Biologics

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.