Baillie Gifford & Co. Has $35.85 Million Position in AbCellera Biologics Inc. (NASDAQ:ABCL)

Baillie Gifford & Co. lessened its stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,236,465 shares of the company's stock after selling 658,238 shares during the quarter. Baillie Gifford & Co. owned about 4.14% of AbCellera Biologics worth $35,853,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Moloney Securities Asset Management LLC acquired a new position in shares of AbCellera Biologics during the fourth quarter valued at approximately $265,000. China Universal Asset Management Co. Ltd. grew its position in AbCellera Biologics by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 62,629 shares of the company's stock worth $184,000 after buying an additional 5,955 shares during the last quarter. 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 worth $925,000 after buying an additional 21,483 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in AbCellera Biologics by 58.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 34,000 shares of the company's stock worth $88,000 after buying an additional 12,500 shares during the last quarter. Finally, State Street Corp grew its position in AbCellera Biologics by 1.5% in the third quarter. State Street Corp now owns 323,229 shares of the company's stock worth $840,000 after buying an additional 4,679 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company's stock.

AbCellera Biologics Price Performance

AbCellera Biologics stock traded down $0.11 during midday trading on Friday, reaching $3.03. The stock had a trading volume of 2,353,401 shares, compared to its average volume of 3,985,531. The firm's fifty day simple moving average is $3.09 and its two-hundred day simple moving average is $2.84. AbCellera Biologics Inc. has a twelve month low of $2.34 and a twelve month high of $5.26. The firm has a market cap of $894.97 million, a price-to-earnings ratio of -4.97 and a beta of 0.42.

Analyst Upgrades and Downgrades

ABCL has been the topic of several recent research reports. Stifel Nicolaus restated a "buy" rating and issued a $12.00 price target (down previously from $14.00) on shares of AbCellera Biologics in a research report on Tuesday, November 5th. KeyCorp decreased their price target on shares of AbCellera Biologics from $5.00 to $4.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Benchmark restated a "hold" rating on shares of AbCellera Biologics in a research report on Tuesday, November 5th.

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.