Walleye Capital LLC Reduces Holdings in AbCellera Biologics Inc. (NASDAQ:ABCL)

Walleye Capital LLC lowered its position in AbCellera Biologics Inc. (NASDAQ:ABCL) by 94.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,000 shares of the company’s stock after selling 241,881 shares during the quarter. Walleye Capital LLC’s holdings in AbCellera Biologics were worth $44,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABCL. DKM Wealth Management Inc. purchased a new stake in AbCellera Biologics during the fourth quarter valued at about $29,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of AbCellera Biologics in the fourth quarter worth about $36,000. Mariner LLC purchased a new stake in shares of AbCellera Biologics in the fourth quarter worth about $42,000. Diametric Capital LP purchased a new stake in shares of AbCellera Biologics in the fourth quarter worth about $53,000. Finally, IMG Wealth Management Inc. purchased a new stake in shares of AbCellera Biologics in the fourth quarter worth about $56,000. 61.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Price Performance

Shares of ABCL opened at $2.59 on Tuesday. The firm’s 50 day simple moving average is $2.42 and its 200 day simple moving average is $2.77. The company has a market capitalization of $771.79 million, a P/E ratio of -4.25 and a beta of 0.50. AbCellera Biologics Inc. has a 1-year low of $1.89 and a 1-year high of $4.34.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a report on Monday, March 3rd. KeyCorp increased their price target on shares of AbCellera Biologics from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. Finally, Stifel Nicolaus lowered their target price on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 28th.

AbCellera Biologics Company 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.