AbCellera Biologics Inc. $ABCL Stock Holdings Decreased by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC trimmed its position in AbCellera Biologics Inc. (NASDAQ:ABCL) by 55.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 108,870 shares of the company’s stock after selling 135,310 shares during the period. Pier 88 Investment Partners LLC’s holdings in AbCellera Biologics were worth $548,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. raised its position in shares of AbCellera Biologics by 114.6% during the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock valued at $54,000 after acquiring an additional 12,893 shares in the last quarter. Ballentine Partners LLC bought a new stake in AbCellera Biologics during the second quarter valued at $81,000. XML Financial LLC bought a new stake in AbCellera Biologics during the second quarter valued at $118,000. J2 Capital Management Inc acquired a new stake in shares of AbCellera Biologics during the second quarter worth $45,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of AbCellera Biologics in the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Trading Down 2.4%

Shares of NASDAQ:ABCL opened at $4.14 on Tuesday. The firm’s 50 day moving average is $3.77 and its two-hundred day moving average is $4.41. The firm has a market capitalization of $1.24 billion, a P/E ratio of -7.26 and a beta of 0.73. AbCellera Biologics Inc. has a 52 week low of $1.89 and a 52 week high of $6.51.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, January 21st. Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 20th. Finally, Leerink Partners lowered AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.75.

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.