Renaissance Technologies LLC Sells 459,810 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

Renaissance Technologies LLC reduced its position in AbCellera Biologics Inc. (NASDAQ:ABCL - Free Report) by 15.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,486,893 shares of the company's stock after selling 459,810 shares during the quarter. Renaissance Technologies LLC owned approximately 0.84% of AbCellera Biologics worth $7,287,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ABCL. JPMorgan Chase & Co. increased its stake in shares of AbCellera Biologics by 6.4% in 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 in the last quarter. Moloney Securities Asset Management LLC bought a new stake in AbCellera Biologics during the 4th quarter worth about $265,000. State Street Corp lifted its position in AbCellera Biologics by 1.5% during the 3rd quarter. State Street Corp now owns 323,229 shares of the company's stock valued at $840,000 after purchasing an additional 4,679 shares during the period. HighTower Advisors LLC raised its stake in shares of AbCellera Biologics by 577.9% during the fourth quarter. HighTower Advisors LLC now owns 71,086 shares of the company's stock worth $208,000 after buying an additional 60,600 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in AbCellera Biologics by 10.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 62,629 shares of the company's stock worth $184,000 after acquiring an additional 5,955 shares during the period. 61.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Stock Performance

AbCellera Biologics stock traded up $0.05 during mid-day trading on Thursday, reaching $2.58. The company's stock had a trading volume of 2,060,065 shares, compared to its average volume of 2,647,959. The business's 50 day simple moving average is $2.47 and its 200 day simple moving average is $2.77. AbCellera Biologics Inc. has a 12 month low of $1.89 and a 12 month high of $4.34. The company has a market capitalization of $767.32 million, a price-to-earnings ratio of -4.22 and a beta of 0.50.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ABCL shares. KeyCorp boosted their price objective on shares of AbCellera Biologics from $4.00 to $5.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Benchmark reaffirmed a "hold" rating on shares of AbCellera Biologics in a research report on Monday, March 3rd. Finally, Stifel Nicolaus lowered their target price on AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, February 28th.

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.