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

DnB Asset Management AS increased its position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 424.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 305,579 shares of the company’s stock after purchasing an additional 247,342 shares during the period. DnB Asset Management AS owned about 0.10% of AbCellera Biologics worth $895,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ABCL. Walleye Capital LLC acquired a new stake in AbCellera Biologics during the third quarter valued at approximately $668,000. JPMorgan Chase & Co. grew its position in AbCellera Biologics by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 355,747 shares of the company’s stock valued at $925,000 after acquiring an additional 21,483 shares during the period. Moloney Securities Asset Management LLC acquired a new position in AbCellera Biologics during the fourth quarter worth $265,000. State Street Corp lifted its holdings in shares of AbCellera Biologics by 1.5% during the third quarter. State Street Corp now owns 323,229 shares of the company’s stock valued at $840,000 after acquiring an additional 4,679 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of AbCellera Biologics by 10.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 62,629 shares of the company’s stock valued at $184,000 after purchasing an additional 5,955 shares in the last quarter. 61.42% of the stock is currently owned by institutional investors and hedge funds.

AbCellera Biologics Stock Up 6.2 %

Shares of NASDAQ:ABCL opened at $2.22 on Thursday. The firm has a market cap 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 company’s 50-day moving average price is $2.79 and its two-hundred day moving average price is $2.81.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ABCL shares. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a research report on Monday, March 3rd. Stifel Nicolaus cut 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. Finally, KeyCorp decreased their price target on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th.

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.