AbCellera Biologics Inc. (NASDAQ:ABCL) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in AbCellera Biologics Inc. (NASDAQ:ABCL) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 355,747 shares of the company’s stock after purchasing an additional 21,483 shares during the quarter. JPMorgan Chase & Co.’s holdings in AbCellera Biologics were worth $925,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Walleye Capital LLC purchased a new position in shares of AbCellera Biologics in the third quarter worth about $668,000. Renaissance Technologies LLC grew its position in shares of AbCellera Biologics by 16.0% in the second quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock valued at $5,117,000 after purchasing an additional 239,000 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of AbCellera Biologics by 991.3% in the third quarter. GSA Capital Partners LLP now owns 241,866 shares of the company’s stock valued at $629,000 after purchasing an additional 219,703 shares during the last quarter. State Street Corp lifted its position in AbCellera Biologics by 1.5% during the third quarter. State Street Corp now owns 323,229 shares of the company’s stock worth $840,000 after buying an additional 4,679 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in AbCellera Biologics during the second quarter worth $99,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Stock Down 1.1 %

NASDAQ:ABCL opened at $3.48 on Friday. AbCellera Biologics Inc. has a 52 week low of $2.34 and a 52 week high of $5.62. The stock’s fifty day moving average is $2.96 and its two-hundred day moving average is $2.82. The company has a market capitalization of $1.03 billion, a P/E ratio of -5.70 and a beta of 0.40.

AbCellera Biologics (NASDAQ:ABCL) last posted its earnings results on Monday, November 4th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. The company had revenue of $6.51 million during the quarter, compared to analyst estimates of $8.95 million. During the same period in the previous year, the company earned ($0.10) EPS. Sell-side analysts anticipate that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABCL. Benchmark reaffirmed a “hold” rating on shares of AbCellera Biologics in a research note on Tuesday, November 5th. KeyCorp cut their price objective on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $12.00 target price (down from $14.00) on shares of AbCellera Biologics in a report on Tuesday, November 5th.

AbCellera Biologics Company Profile

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.