AbCellera Biologics’ (ABCL) “Hold” Rating Reiterated at Benchmark

Benchmark reaffirmed their hold rating on shares of AbCellera Biologics (NASDAQ:ABCL) in a research note issued to investors on Monday,Benzinga reports.

ABCL has been the subject of several other research reports. KeyCorp dropped their price target on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus lowered their price objective on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday.

AbCellera Biologics Price Performance

ABCL opened at $2.36 on Monday. AbCellera Biologics has a 12 month low of $2.31 and a 12 month high of $5.13. The business has a 50-day moving average of $3.09 and a two-hundred day moving average of $2.84. The stock has a market capitalization of $697.06 million, a price-to-earnings ratio of -3.87 and a beta of 0.42.

Hedge Funds Weigh In On AbCellera Biologics

Hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC raised its holdings in AbCellera Biologics by 333.1% in the fourth quarter. Squarepoint Ops LLC now owns 57,685 shares of the company’s stock valued at $169,000 after buying an additional 44,367 shares during the period. Two Sigma Advisers LP increased its position in shares of AbCellera Biologics by 19.8% in the fourth quarter. Two Sigma Advisers LP now owns 2,608,400 shares of the company’s stock worth $7,643,000 after acquiring an additional 430,800 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of AbCellera Biologics by 28.6% in the 4th quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company’s stock valued at $9,544,000 after acquiring an additional 723,676 shares during the period. Tang Capital Management LLC raised its stake in shares of AbCellera Biologics by 12.3% in the 4th quarter. Tang Capital Management LLC now owns 2,582,816 shares of the company’s stock valued at $7,568,000 after acquiring an additional 282,816 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of AbCellera Biologics by 96.7% during the 4th quarter. Millennium Management LLC now owns 1,482,715 shares of the company’s stock valued at $4,344,000 after acquiring an additional 728,828 shares in the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.

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.