MetLife Investment Management LLC boosted its stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL – Get Rating) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,741 shares of the company’s stock after acquiring an additional 3,554 shares during the period. MetLife Investment Management LLC’s holdings in AbCellera Biologics were worth $1,115,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Worth Asset Management LLC acquired a new stake in shares of AbCellera Biologics in the 1st quarter valued at $25,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of AbCellera Biologics in the 3rd quarter valued at $26,000. National Bank of Canada FI boosted its holdings in shares of AbCellera Biologics by 69.3% in the 3rd quarter. National Bank of Canada FI now owns 2,700 shares of the company’s stock valued at $27,000 after purchasing an additional 1,105 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of AbCellera Biologics in the 3rd quarter valued at $35,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of AbCellera Biologics in the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 42.19% of the company’s stock.
Insiders Place Their Bets
In related news, major shareholder Holdings Ltd. Thermopylae bought 85,102 shares of the business’s stock in a transaction on Friday, December 16th. The shares were purchased at an average cost of $10.10 per share, with a total value of $859,530.20. Following the acquisition, the insider now owns 55,859,493 shares of the company’s stock, valued at $564,180,879.30. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 30.30% of the company’s stock.
AbCellera Biologics Trading Down 0.4 %
AbCellera Biologics (NASDAQ:ABCL – Get Rating) last announced its earnings results on Tuesday, February 21st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.11). The company had revenue of $21.50 million for the quarter, compared to analyst estimates of $50.80 million. AbCellera Biologics had a return on equity of 13.50% and a net margin of 32.66%. The firm’s quarterly revenue was down 84.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. Equities research analysts predict that AbCellera Biologics Inc. will post -0.57 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
ABCL has been the topic of a number of research analyst reports. Cowen initiated coverage on AbCellera Biologics in a report on Tuesday. They issued an “outperform” rating on the stock. Cowen assumed coverage on AbCellera Biologics in a report on Tuesday. They set an “outperform” rating on the stock. BMO Capital Markets cut their price objective on AbCellera Biologics from $40.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. The Goldman Sachs Group assumed coverage on AbCellera Biologics in a report on Thursday, December 15th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, SVB Leerink cut their price objective on AbCellera Biologics from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, January 6th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $27.33.
AbCellera Biologics Profile
AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, artificial intelligence-powered antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed as drugs. As of December 31, 2021, the company had 156 discovery programs that are either completed, in progress, or under contract with 36 partners.
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