Erste Asset Management GmbH Buys Shares of 62,000 AbCellera Biologics Inc. (NASDAQ:ABCL)

Erste Asset Management GmbH purchased a new position in AbCellera Biologics Inc. (NASDAQ:ABCL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 62,000 shares of the company’s stock, valued at approximately $162,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in shares of AbCellera Biologics by 16.0% in the second quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock worth $5,117,000 after buying an additional 239,000 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of AbCellera Biologics by 991.3% in the third quarter. GSA Capital Partners LLP now owns 241,866 shares of the company’s stock worth $629,000 after buying an additional 219,703 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of AbCellera Biologics in the second quarter worth $923,000. Headlands Technologies LLC purchased a new position in shares of AbCellera Biologics in the second quarter worth $146,000. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of AbCellera Biologics by 104.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company’s stock worth $913,000 after buying an additional 158,000 shares during the last quarter. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

Shares of AbCellera Biologics stock opened at $2.90 on Thursday. The firm has a fifty day moving average price of $2.73 and a 200 day moving average price of $2.91. AbCellera Biologics Inc. has a 1 year low of $2.34 and a 1 year high of $6.05. The stock has a market cap of $856.57 million, a PE ratio of -4.75 and a beta of 0.41.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and set a $12.00 target price (down previously from $14.00) on shares of AbCellera Biologics in a report on Tuesday, November 5th. Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a report on Tuesday, November 5th.

AbCellera Biologics 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.