Mitsubishi UFJ Asset Management Co. Ltd. Boosts Position in AbCellera Biologics Inc. (NASDAQ:ABCL)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in AbCellera Biologics Inc. (NASDAQ:ABCL) by 13.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 38,855 shares of the company’s stock after purchasing an additional 4,641 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in AbCellera Biologics were worth $221,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ABCL. Pacifica Partners Inc. grew its stake in 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 acquiring an additional 2,185 shares during the last quarter. Pathstone Family Office LLC grew its position in shares of AbCellera Biologics by 16.5% in the third quarter. Pathstone Family Office LLC now owns 17,390 shares of the company’s stock valued at $80,000 after purchasing an additional 2,466 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of AbCellera Biologics by 3.7% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 83,867 shares of the company’s stock worth $386,000 after purchasing an additional 3,000 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of AbCellera Biologics by 13.5% during the 4th quarter. Handelsbanken Fonder AB now owns 45,400 shares of the company’s stock worth $259,000 after purchasing an additional 5,400 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in AbCellera Biologics in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABCL. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research note on Thursday, February 22nd. Stifel Nicolaus dropped their target price on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Finally, KeyCorp reduced their price target on shares of AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AbCellera Biologics has a consensus rating of “Buy” and a consensus target price of $16.17.

AbCellera Biologics Price Performance

ABCL stock opened at $3.85 on Friday. The firm has a fifty day moving average price of $4.14 and a two-hundred day moving average price of $4.75. AbCellera Biologics Inc. has a 1-year low of $3.58 and a 1-year high of $8.05. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -7.40 and a beta of 0.42.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. AbCellera Biologics had a negative net margin of 410.47% and a negative return on equity of 12.61%. The business had revenue of $9.95 million during the quarter, compared to the consensus estimate of $10.73 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. As a group, analysts expect that AbCellera Biologics Inc. will post -0.6 EPS for the current fiscal year.

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.