Geode Capital Management LLC Has $295,000 Stock Holdings in AbCellera Biologics Inc. (NASDAQ:ABCL)

Geode Capital Management LLC trimmed its position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 63.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,653 shares of the company's stock after selling 201,213 shares during the quarter. Geode Capital Management LLC's holdings in AbCellera Biologics were worth $295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in ABCL. Citizens Financial Group Inc. RI acquired a new position in shares of AbCellera Biologics during the 2nd quarter valued at about $923,000. Walleye Capital LLC bought a new position in shares of AbCellera Biologics in the third quarter valued at approximately $668,000. Renaissance Technologies LLC lifted its stake in shares of AbCellera Biologics by 16.0% in the second quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company's stock worth $5,117,000 after buying an additional 239,000 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of AbCellera Biologics by 991.3% during the 3rd quarter. GSA Capital Partners LLP now owns 241,866 shares of the company's stock worth $629,000 after buying an additional 219,703 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in AbCellera Biologics by 104.9% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company's stock valued at $913,000 after buying an additional 158,000 shares during the last quarter. Institutional investors own 61.42% of the company's stock.

AbCellera Biologics Trading Down 7.7 %

ABCL traded down $0.23 on Tuesday, hitting $2.77. 5,686,392 shares of the stock traded hands, compared to its average volume of 3,828,311. The business has a fifty day moving average price of $2.90 and a two-hundred day moving average price of $2.80. The firm has a market capitalization of $818.16 million, a PE ratio of -4.54 and a beta of 0.40. AbCellera Biologics Inc. has a 52 week low of $2.34 and a 52 week high of $5.62.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. The firm had revenue of $6.51 million during the quarter, compared to analyst estimates of $8.95 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. On average, equities research analysts forecast that AbCellera Biologics Inc. will post -0.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABCL. KeyCorp decreased their price target on shares of AbCellera Biologics from $5.00 to $4.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus reiterated a "buy" rating and set a $12.00 price target (down from $14.00) on shares of AbCellera Biologics in a report on Tuesday, November 5th. Finally, Benchmark restated a "hold" rating on shares of AbCellera Biologics in a research note on Tuesday, November 5th.

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.