Raymond James Financial Services Advisors Inc. Invests $62,000 in AbCellera Biologics Inc. (NASDAQ:ABCL)

Raymond James Financial Services Advisors Inc. bought a new stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,935 shares of the company’s stock, valued at approximately $62,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacifica Partners Inc. lifted its stake in shares of AbCellera Biologics by 82.9% in the 4th quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock valued at $28,000 after purchasing an additional 2,185 shares during the last quarter. Pathstone Family Office LLC increased its position in AbCellera Biologics by 16.5% during the third quarter. Pathstone Family Office LLC now owns 17,390 shares of the company’s stock valued at $80,000 after acquiring an additional 2,466 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of AbCellera Biologics by 3.7% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 83,867 shares of the company’s stock valued at $386,000 after acquiring an additional 3,000 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of AbCellera Biologics by 96.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,423 shares of the company’s stock worth $34,000 after acquiring an additional 3,638 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of AbCellera Biologics by 392.7% during the 3rd quarter. National Bank of Canada FI now owns 6,085 shares of the company’s stock worth $27,000 after purchasing an additional 4,850 shares during the period. 61.42% of the stock is owned by hedge funds and other institutional investors.

AbCellera Biologics Stock Up 3.6 %

Shares of ABCL stock opened at $3.76 on Friday. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -7.23 and a beta of 0.36. AbCellera Biologics Inc. has a 52-week low of $3.62 and a 52-week high of $8.05. The company’s 50 day moving average is $4.56 and its 200 day moving average is $4.80.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The company had revenue of $9.18 million for the quarter, compared to the consensus estimate of $9.58 million. AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. Analysts anticipate that AbCellera Biologics Inc. will post -0.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABCL shares. Stifel Nicolaus decreased their price objective on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $15.86.

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.