GSA Capital Partners LLP Takes Position in AbCellera Biologics Inc. $ABCL

GSA Capital Partners LLP bought a new position in AbCellera Biologics Inc. (NASDAQ:ABCL) during the 2nd quarter, Holdings Channel.com reports. The fund bought 211,370 shares of the company’s stock, valued at approximately $1,659,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABCL. AssuredPartners Investment Advisors LLC purchased a new position in AbCellera Biologics during the fourth quarter valued at $34,000. Voleon Capital Management LP purchased a new stake in AbCellera Biologics in the 3rd quarter worth $56,000. Engineers Gate Manager LP bought a new position in shares of AbCellera Biologics during the 4th quarter valued at about $38,000. Allworth Financial LP boosted its holdings in shares of AbCellera Biologics by 857.0% during the 4th quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock valued at $39,000 after purchasing an additional 10,096 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of AbCellera Biologics during the first quarter valued at about $46,000. Institutional investors own 61.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ABCL shares. Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Stifel Nicolaus raised their price target on AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Truist Financial lifted their price objective on AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AbCellera Biologics has an average rating of “Moderate Buy” and an average target price of $12.83.

AbCellera Biologics Price Performance

AbCellera Biologics stock opened at $11.38 on Monday. The company’s 50-day moving average price is $6.65 and its 200-day moving average price is $4.91. The company has a market cap of $3.49 billion, a PE ratio of -21.07 and a beta of 1.20. AbCellera Biologics Inc. has a twelve month low of $2.74 and a twelve month high of $11.50.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The business had revenue of $4.05 million during 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%. As a group, sell-side analysts expect that AbCellera Biologics Inc. will post -0.68 earnings per share for the current fiscal year.

AbCellera Biologics 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.