Federated Hermes Inc. Lowers Stock Holdings in AbCellera Biologics Inc. (NASDAQ:ABCL)

Federated Hermes Inc. reduced its holdings in AbCellera Biologics Inc. (NASDAQ:ABCL) by 59.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 916,237 shares of the company’s stock after selling 1,366,459 shares during the period. Federated Hermes Inc. owned about 0.31% of AbCellera Biologics worth $2,685,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ABCL. Guardian Partners Inc. acquired a new stake in AbCellera Biologics in the 4th quarter valued at $5,413,000. Norges Bank acquired a new stake in shares of AbCellera Biologics in the fourth quarter valued at about $3,764,000. JPMorgan Chase & Co. increased its stake in shares of AbCellera Biologics by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 355,747 shares of the company’s stock worth $925,000 after purchasing an additional 21,483 shares in the last quarter. State Street Corp raised its position in shares of AbCellera Biologics by 1.5% during the 3rd quarter. State Street Corp now owns 323,229 shares of the company’s stock worth $840,000 after purchasing an additional 4,679 shares during the last quarter. Finally, DnB Asset Management AS lifted its stake in AbCellera Biologics by 424.7% in the 4th quarter. DnB Asset Management AS now owns 305,579 shares of the company’s stock valued at $895,000 after buying an additional 247,342 shares in the last quarter. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. KeyCorp cut their price objective on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a research note on Monday, March 3rd. Finally, Stifel Nicolaus decreased their price objective on AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, February 28th.

AbCellera Biologics Price Performance

ABCL opened at $2.40 on Monday. The firm has a market capitalization of $715.17 million, a price-to-earnings ratio of -3.93 and a beta of 0.50. The company’s 50 day simple moving average is $2.58 and its two-hundred day simple moving average is $2.78. AbCellera Biologics Inc. has a 1-year low of $1.89 and a 1-year high of $4.34.

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.