Commonwealth of Pennsylvania Public School Empls Retrmt SYS Invests $63,000 in AbCellera Biologics Inc. (NASDAQ:ABCL)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 21,664 shares of the company’s stock, valued at approximately $63,000.

Several other institutional investors have also recently added to or reduced their stakes in ABCL. Walleye Capital LLC purchased a new position in shares of AbCellera Biologics during the third quarter worth $668,000. Moloney Securities Asset Management LLC acquired a new position in AbCellera Biologics during the 4th quarter worth about $265,000. Erste Asset Management GmbH purchased a new position in AbCellera Biologics during the 3rd quarter valued at about $162,000. HighTower Advisors LLC grew its position in AbCellera Biologics by 577.9% in the 4th quarter. HighTower Advisors LLC now owns 71,086 shares of the company’s stock valued at $208,000 after acquiring an additional 60,600 shares in the last quarter. Finally, Quadrature Capital Ltd increased its stake in AbCellera Biologics by 328.0% during the third quarter. Quadrature Capital Ltd now owns 59,617 shares of the company’s stock worth $154,000 after purchasing an additional 45,688 shares during the period. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Stock Performance

Shares of AbCellera Biologics stock opened at $2.36 on Friday. The business has a 50-day simple moving average of $2.87 and a 200-day simple moving average of $2.82. AbCellera Biologics Inc. has a one year low of $2.11 and a one year high of $4.75. The company has a market cap of $703.25 million, a PE ratio of -3.87 and a beta of 0.45.

Analyst Ratings Changes

ABCL has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 28th. KeyCorp decreased their price target on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Benchmark reaffirmed a “hold” rating on shares of AbCellera Biologics in a research report on Monday, March 3rd.

About AbCellera Biologics

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.