Federated Hermes Inc. lessened its holdings in AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 59.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 916,237 shares of the company's stock after selling 1,366,459 shares during the quarter. Federated Hermes Inc. owned about 0.31% of AbCellera Biologics worth $2,685,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in ABCL. Guardian Partners Inc. bought a new stake in shares of 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. increased its holdings in shares of 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 acquiring an additional 21,483 shares in the last quarter. State Street Corp raised its position 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 purchasing an additional 4,679 shares during the last quarter. Finally, DnB Asset Management AS boosted its stake in AbCellera Biologics by 424.7% in the 4th quarter. DnB Asset Management AS now owns 305,579 shares of the company's stock worth $895,000 after purchasing an additional 247,342 shares in the last quarter. Institutional investors own 61.42% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on ABCL shares. Stifel Nicolaus dropped their target price on shares of AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Benchmark reaffirmed a "hold" rating on shares of AbCellera Biologics in a research report on Monday, March 3rd. Finally, KeyCorp decreased their target price on AbCellera Biologics from $5.00 to $4.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th.
View Our Latest Analysis on AbCellera Biologics
AbCellera Biologics Trading Down 0.4 %
NASDAQ:ABCL traded down $0.01 during trading hours on Tuesday, reaching $2.43. The company had a trading volume of 5,770,397 shares, compared to its average volume of 2,587,274. The firm has a market cap of $724.11 million, a price-to-earnings ratio of -3.98 and a beta of 0.50. The firm's 50 day moving average price is $2.55 and its 200-day moving average price is $2.77. AbCellera Biologics Inc. has a 52 week low of $1.89 and a 52 week high of $4.34.
About AbCellera Biologics
(
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.
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