Raymond James Financial Inc. Takes Position in AbCellera Biologics Inc. (NASDAQ:ABCL)

Raymond James Financial Inc. acquired a new stake in AbCellera Biologics Inc. (NASDAQ:ABCL) in the 4th quarter, Holdings Channel reports. The firm acquired 19,501 shares of the company’s stock, valued at approximately $57,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of AbCellera Biologics by 6.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 355,747 shares of the company’s stock worth $925,000 after acquiring an additional 21,483 shares during the period. State Street Corp raised its stake in shares of AbCellera Biologics by 1.5% in the third quarter. State Street Corp now owns 323,229 shares of the company’s stock valued at $840,000 after acquiring an additional 4,679 shares during the last quarter. Moloney Securities Asset Management LLC acquired a new position in AbCellera Biologics in the fourth quarter worth $265,000. China Universal Asset Management Co. Ltd. increased its stake in shares of AbCellera Biologics by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 62,629 shares of the company’s stock valued at $184,000 after buying an additional 5,955 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in AbCellera Biologics by 58.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 34,000 shares of the company’s stock worth $88,000 after buying an additional 12,500 shares in the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ABCL. Stifel Nicolaus lowered their price objective on AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a report on Monday, March 3rd. Finally, KeyCorp dropped their price target on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th.

AbCellera Biologics Stock Performance

Shares of NASDAQ:ABCL opened at $2.40 on Monday. The company has a 50-day simple moving average of $2.58 and a 200 day simple moving average of $2.78. The company has a market capitalization of $715.17 million, a P/E ratio of -3.93 and a beta of 0.50. AbCellera Biologics Inc. has a 52-week low of $1.89 and a 52-week high of $4.34.

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.