AbCellera Biologics (NASDAQ:ABCL) Receives Hold Rating from Benchmark

Benchmark reiterated their hold rating on shares of AbCellera Biologics (NASDAQ:ABCL) in a report issued on Monday,Benzinga reports.

A number of other brokerages have also weighed in on ABCL. Stifel Nicolaus reduced their target price on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 28th. KeyCorp reduced their target price on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th.

AbCellera Biologics Stock Up 2.1 %

Shares of ABCL stock opened at $2.39 on Monday. AbCellera Biologics has a 12-month low of $2.20 and a 12-month high of $5.13. The firm has a market capitalization of $712.19 million, a price-to-earnings ratio of -3.92 and a beta of 0.45. The firm has a fifty day moving average of $3.06 and a 200-day moving average of $2.84.

Hedge Funds Weigh In On AbCellera Biologics

A number of large investors have recently modified their holdings of ABCL. Arcadia Investment Management Corp MI acquired a new position in shares of AbCellera Biologics during the 3rd quarter worth about $26,000. DKM Wealth Management Inc. acquired a new position in shares of AbCellera Biologics during the 4th quarter worth about $29,000. State of New Jersey Common Pension Fund D acquired a new position in shares of AbCellera Biologics during the 4th quarter worth about $36,000. Balyasny Asset Management L.P. acquired a new position in shares of AbCellera Biologics during the 4th quarter worth about $40,000. Finally, Mariner LLC acquired a new position in shares of AbCellera Biologics during the 4th quarter worth about $42,000. 61.42% of the stock is currently owned by institutional investors and hedge funds.

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.