PDT Partners LLC Sells 173,884 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

PDT Partners LLC lowered its holdings in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 73.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,304 shares of the company's stock after selling 173,884 shares during the quarter. PDT Partners LLC's holdings in AbCellera Biologics were worth $167,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI purchased a new stake in shares of AbCellera Biologics during the third quarter worth about $26,000. Evergreen Capital Management LLC purchased a new stake in shares of AbCellera Biologics during the second quarter worth about $32,000. NBC Securities Inc. grew its holdings in AbCellera Biologics by 56.0% during the 3rd quarter. NBC Securities Inc. now owns 11,420 shares of the company's stock valued at $29,000 after buying an additional 4,100 shares in the last quarter. Ballentine Partners LLC purchased a new position in AbCellera Biologics during the 3rd quarter valued at approximately $54,000. Finally, B. Riley Wealth Advisors Inc. grew its holdings in AbCellera Biologics by 104.8% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company's stock valued at $64,000 after buying an additional 11,000 shares in the last quarter. Hedge funds and other institutional investors own 61.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Benchmark restated a "hold" rating on shares of AbCellera Biologics in a report on Tuesday, November 5th. Stifel Nicolaus restated a "buy" rating and set a $12.00 price target (down previously from $14.00) on shares of AbCellera Biologics in a report on Tuesday, November 5th.

AbCellera Biologics Price Performance

Shares of NASDAQ:ABCL traded down $0.05 during trading on Thursday, hitting $2.85. The company had a trading volume of 2,479,956 shares, compared to its average volume of 1,722,658. The stock has a market cap of $841.80 million, a price-to-earnings ratio of -4.62 and a beta of 0.41. AbCellera Biologics Inc. has a one year low of $2.34 and a one year high of $6.05. The company has a fifty day simple moving average of $2.74 and a two-hundred day simple moving average of $2.91.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $6.51 million during the quarter, compared to the consensus estimate of $8.95 million. AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. During the same period in the previous year, the business earned ($0.10) earnings per share. On average, equities research analysts anticipate that AbCellera Biologics Inc. will post -0.59 earnings per share for the current year.

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.