Benchmark Reaffirms "Hold" Rating for AbCellera Biologics (NASDAQ:ABCL)

Benchmark reissued their hold rating on shares of AbCellera Biologics (NASDAQ:ABCL - Free Report) in a research note issued to investors on Monday,Benzinga reports.

A number of other research analysts have also issued reports on the company. Stifel Nicolaus decreased their target price on AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. KeyCorp decreased their target price 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 Trading Up 2.1 %

AbCellera Biologics stock traded up $0.05 during mid-day trading on Monday, hitting $2.39. The company had a trading volume of 4,387,957 shares, compared to its average volume of 2,237,422. AbCellera Biologics has a 12-month low of $2.20 and a 12-month high of $5.13. The company's fifty day moving average is $3.06 and its 200-day moving average is $2.84. The company has a market capitalization of $712.19 million, a price-to-earnings ratio of -3.92 and a beta of 0.45.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Walleye Capital LLC acquired a new position in AbCellera Biologics in the 3rd quarter valued at $668,000. JPMorgan Chase & Co. raised its stake in AbCellera Biologics by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 355,747 shares of the company's stock valued at $925,000 after purchasing an additional 21,483 shares during the last quarter. GSA Capital Partners LLP raised its stake in AbCellera Biologics by 991.3% in the 3rd quarter. GSA Capital Partners LLP now owns 241,866 shares of the company's stock valued at $629,000 after purchasing an additional 219,703 shares during the last quarter. Moloney Securities Asset Management LLC acquired a new position in AbCellera Biologics in the 4th quarter valued at $265,000. Finally, State Street Corp increased its stake in shares of AbCellera Biologics by 1.5% in the 3rd quarter. State Street Corp now owns 323,229 shares of the company's stock worth $840,000 after acquiring an additional 4,679 shares during the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.

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.