AbCellera Biologics Inc. (NASDAQ:ABCL) Stake Lowered by Baillie Gifford & Co.

Baillie Gifford & Co. cut its stake in AbCellera Biologics Inc. (NASDAQ:ABCL) by 41.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,894,703 shares of the company’s stock after selling 9,016,311 shares during the quarter. Baillie Gifford & Co.’s holdings in AbCellera Biologics were worth $33,526,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new position in AbCellera Biologics in the 3rd quarter worth about $26,000. NBC Securities Inc. grew its stake in shares of AbCellera Biologics by 56.0% in the 3rd quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock valued at $29,000 after buying an additional 4,100 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in AbCellera Biologics in the second quarter worth approximately $32,000. Ballentine Partners LLC bought a new position in AbCellera Biologics during the third quarter valued at approximately $54,000. Finally, B. Riley Wealth Advisors Inc. lifted its stake in AbCellera Biologics by 104.8% in the second quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company’s stock valued at $64,000 after acquiring an additional 11,000 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Stock Down 6.0 %

Shares of ABCL stock opened at $2.96 on Wednesday. AbCellera Biologics Inc. has a 12 month low of $2.34 and a 12 month high of $6.05. The company has a market cap of $874.30 million, a PE ratio of -4.85 and a beta of 0.35. The business’s 50 day moving average is $2.65 and its two-hundred day moving average is $3.02.

AbCellera Biologics (NASDAQ:ABCL) last posted its earnings results on Monday, November 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $6.51 million during the quarter, compared to analyst estimates of $8.95 million. AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. During the same quarter in the previous year, the business posted ($0.10) earnings per share. As a group, equities analysts expect that AbCellera Biologics Inc. will post -0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ABCL shares. Benchmark restated a “hold” rating on shares of AbCellera Biologics in a research note on Tuesday, November 5th. Stifel Nicolaus restated a “buy” rating and set a $12.00 target price (down from $14.00) on shares of AbCellera Biologics in a report on Tuesday, November 5th.

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.