AbCellera Biologics’ (ABCL) Hold Rating Reiterated at Benchmark

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

ABCL has been the subject of several other research reports. Stifel Nicolaus dropped 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. KeyCorp dropped 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.

AbCellera Biologics Trading Up 2.1 %

NASDAQ:ABCL opened at $2.39 on Monday. AbCellera Biologics has a 1 year low of $2.20 and a 1 year high of $5.13. The firm has a 50 day moving average of $3.06 and a 200-day moving average of $2.84. The stock has a market capitalization of $712.19 million, a P/E ratio of -3.92 and a beta of 0.45.

Institutional Trading of AbCellera Biologics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors bought a new stake in shares of AbCellera Biologics during the 4th quarter valued at $23,245,000. Two Sigma Investments LP raised its position in shares of AbCellera Biologics by 28.6% during the 4th quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company’s stock valued at $9,544,000 after acquiring an additional 723,676 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of AbCellera Biologics by 19.8% during the 4th quarter. Two Sigma Advisers LP now owns 2,608,400 shares of the company’s stock valued at $7,643,000 after acquiring an additional 430,800 shares during the last quarter. Tang Capital Management LLC grew its holdings in shares of AbCellera Biologics by 12.3% in the 4th quarter. Tang Capital Management LLC now owns 2,582,816 shares of the company’s stock valued at $7,568,000 after buying an additional 282,816 shares during the period. Finally, Guardian Partners Inc. acquired a new position in shares of AbCellera Biologics in the 4th quarter valued at $5,413,000. Institutional investors own 61.42% of the company’s stock.

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.