AbCellera Biologics Inc. (NASDAQ:ABCL) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. cut its holdings in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 41.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,894,703 shares of the company's stock after selling 9,016,311 shares during the quarter. Baillie Gifford & Co. owned about 4.38% of AbCellera Biologics worth $33,526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Baker BROS. Advisors LP lifted its holdings in shares of AbCellera Biologics by 20.1% during the 1st quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company's stock worth $124,691,000 after acquiring an additional 4,615,887 shares during the period. Renaissance Technologies LLC grew its holdings in shares of AbCellera Biologics by 16.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company's stock worth $5,117,000 after purchasing an additional 239,000 shares during the period. Intellectus Partners LLC raised its stake in shares of AbCellera Biologics by 0.7% in the 2nd quarter. Intellectus Partners LLC now owns 545,533 shares of the company's stock valued at $1,615,000 after acquiring an additional 3,750 shares during the period. Citizens Financial Group Inc. RI purchased a new stake in shares of AbCellera Biologics in the second quarter worth about $923,000. Finally, Skandinaviska Enskilda Banken AB publ grew its position in AbCellera Biologics by 104.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company's stock valued at $913,000 after acquiring an additional 158,000 shares in the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on ABCL shares. Benchmark reaffirmed a "hold" rating on shares of AbCellera Biologics in a research report on Tuesday, November 5th. Stifel Nicolaus reiterated a "buy" rating and set a $12.00 target price (down previously from $14.00) on shares of AbCellera Biologics in a research note on Tuesday, November 5th.

AbCellera Biologics Trading Down 1.4 %

Shares of NASDAQ ABCL traded down $0.04 during mid-day trading on Wednesday, hitting $2.92. The company had a trading volume of 2,663,411 shares, compared to its average volume of 1,680,514. AbCellera Biologics Inc. has a 12 month low of $2.34 and a 12 month high of $6.05. The firm's 50 day simple moving average is $2.66 and its two-hundred day simple moving average is $3.01.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $6.51 million for the quarter, compared to analyst estimates of $8.95 million. During the same period last year, the firm posted ($0.10) EPS. Equities research analysts expect that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

AbCellera Biologics 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.