DnB Asset Management AS Has $895,000 Stock Holdings in AbCellera Biologics Inc. (NASDAQ:ABCL)

DnB Asset Management AS raised its holdings in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 424.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 305,579 shares of the company’s stock after acquiring an additional 247,342 shares during the period. DnB Asset Management AS’s holdings in AbCellera Biologics were worth $895,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D bought a new stake in AbCellera Biologics in the fourth quarter valued at about $36,000. IMG Wealth Management Inc. bought a new stake in shares of AbCellera Biologics in the 4th quarter valued at about $56,000. Raymond James Financial Inc. bought a new stake in shares of AbCellera Biologics in the 4th quarter valued at about $57,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of AbCellera Biologics in the 4th quarter valued at approximately $63,000. Finally, B. Riley Wealth Advisors Inc. boosted its stake in AbCellera Biologics by 58.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 34,000 shares of the company’s stock worth $88,000 after acquiring an additional 12,500 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ABCL shares. Stifel Nicolaus lowered their price objective on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Benchmark restated a “hold” rating on shares of AbCellera Biologics in a report on Monday, March 3rd. Finally, KeyCorp cut their price objective on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th.

AbCellera Biologics Trading Up 6.2 %

ABCL opened at $2.22 on Thursday. The stock has a market capitalization of $661.53 million, a P/E ratio of -3.64 and a beta of 0.45. AbCellera Biologics Inc. has a 12 month low of $2.02 and a 12 month high of $4.75. The firm’s fifty day simple moving average is $2.79 and its 200 day simple moving average is $2.81.

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.