Renaissance Technologies LLC Trims Holdings in AbCellera Biologics Inc. $ABCL

Renaissance Technologies LLC lowered its stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 36.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,510,629 shares of the company’s stock after selling 878,600 shares during the quarter. Renaissance Technologies LLC’s holdings in AbCellera Biologics were worth $5,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABCL. Invesco Ltd. raised its holdings in AbCellera Biologics by 114.6% in the first 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. Geode Capital Management LLC grew its holdings in AbCellera Biologics by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 363,188 shares of the company’s stock worth $1,246,000 after acquiring an additional 12,301 shares in the last quarter. Creative Planning grew its holdings in AbCellera Biologics by 6.9% during the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock worth $141,000 after acquiring an additional 2,656 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of AbCellera Biologics by 17.0% in the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock worth $96,000 after purchasing an additional 4,070 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of AbCellera Biologics by 1,304.5% in the 2nd quarter. Bank of America Corp DE now owns 224,365 shares of the company’s stock worth $770,000 after purchasing an additional 208,390 shares during the last quarter. Institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

ABCL stock opened at $5.92 on Thursday. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -12.33 and a beta of 1.20. AbCellera Biologics Inc. has a 1-year low of $2.74 and a 1-year high of $8.44. The firm has a fifty day moving average price of $6.19 and a two-hundred day moving average price of $4.66.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.04). AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.The business had revenue of $4.05 million during the quarter, compared to the consensus estimate of $7.85 million. As a group, analysts expect that AbCellera Biologics Inc. will post -0.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABCL. JonesTrading began coverage on shares of AbCellera Biologics in a research note on Friday, April 10th. They issued a “buy” rating and a $11.00 target price on the stock. Cantor Fitzgerald initiated coverage on AbCellera Biologics in a research note on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target for the company. Wall Street Zen lowered AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

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.