DnB Asset Management AS Increases Stake in AbCellera Biologics Inc. (NASDAQ:ABCL)

DnB Asset Management AS lifted its position in AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 424.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 305,579 shares of the company's stock after buying an additional 247,342 shares during the quarter. DnB Asset Management AS owned approximately 0.10% of AbCellera Biologics worth $895,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Guardian Partners Inc. purchased a new stake in AbCellera Biologics in the 4th quarter worth approximately $5,413,000. Norges Bank purchased a new stake in shares of AbCellera Biologics in the fourth quarter worth $3,764,000. JPMorgan Chase & Co. boosted its stake in AbCellera Biologics by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 355,747 shares of the company's stock valued at $925,000 after buying an additional 21,483 shares during the period. State Street Corp grew its position in AbCellera Biologics by 1.5% during 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 in the last quarter. Finally, Walleye Capital LLC purchased a new position in AbCellera Biologics during the third quarter worth about $668,000. 61.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on ABCL shares. Benchmark reaffirmed a "hold" rating on shares of AbCellera Biologics in a report on Monday, March 3rd. KeyCorp lowered their target price on shares of AbCellera Biologics from $5.00 to $4.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus dropped their target price on shares of AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, February 28th.

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AbCellera Biologics Price Performance

ABCL stock traded down $0.04 during mid-day trading on Monday, hitting $2.05. 6,313,217 shares of the stock were exchanged, compared to its average volume of 2,495,698. The business has a fifty day moving average price of $2.71 and a 200 day moving average price of $2.79. AbCellera Biologics Inc. has a 12 month low of $1.89 and a 12 month high of $4.75. The stock has a market capitalization of $610.88 million, a price-to-earnings ratio of -3.36 and a beta of 0.50.

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.