AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $3.27, but opened at $3.42. AbCellera Biologics shares last traded at $3.58, with a volume of 1,602,312 shares traded.
Analysts Set New Price Targets
A number of research firms have recently commented on ABCL. Stifel Nicolaus reaffirmed a "buy" rating and set a $12.00 price target (down previously from $14.00) on shares of AbCellera Biologics in a research report on Tuesday, November 5th. KeyCorp dropped 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. Finally, Benchmark reissued a "hold" rating on shares of AbCellera Biologics in a research report on Tuesday, November 5th.
View Our Latest Research Report on AbCellera Biologics
AbCellera Biologics Stock Performance
The stock has a 50-day moving average of $3.09 and a 200-day moving average of $2.84. The firm has a market cap of $894.97 million, a price-to-earnings ratio of -4.97 and a beta of 0.42.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its stake in shares of AbCellera Biologics by 333.1% during the 4th quarter. Squarepoint Ops LLC now owns 57,685 shares of the company's stock worth $169,000 after acquiring an additional 44,367 shares during the period. Two Sigma Advisers LP boosted its stake in shares of AbCellera Biologics by 19.8% during the 4th quarter. Two Sigma Advisers LP now owns 2,608,400 shares of the company's stock worth $7,643,000 after acquiring an additional 430,800 shares during the period. Two Sigma Investments LP boosted its stake in shares of AbCellera Biologics by 28.6% during the 4th quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company's stock worth $9,544,000 after acquiring an additional 723,676 shares during the period. Tang Capital Management LLC boosted its stake in shares of AbCellera Biologics by 12.3% during the 4th quarter. Tang Capital Management LLC now owns 2,582,816 shares of the company's stock worth $7,568,000 after acquiring an additional 282,816 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of AbCellera Biologics by 96.7% during the 4th quarter. Millennium Management LLC now owns 1,482,715 shares of the company's stock worth $4,344,000 after acquiring an additional 728,828 shares during the period. 61.42% of the stock is currently owned by institutional investors.
AbCellera Biologics Company Profile
(
Get Free Report)
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.
Further Reading
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