AbCellera Biologics Inc. (NASDAQ:ABCL) Shares Acquired by Credit Suisse AG

Posted by Defense World Staff on Aug 22nd, 2023

Credit Suisse AG increased its holdings in AbCellera Biologics Inc. (NASDAQ:ABCL – Free Report) by 12.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,608,160 shares of the company’s stock after acquiring an additional 507,665 shares during the quarter. Credit Suisse AG owned approximately 1.60% of AbCellera Biologics worth $34,746,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in shares of AbCellera Biologics by 67.9% in the 4th quarter. Russell Investments Group Ltd. now owns 8,900 shares of the company’s stock valued at $90,000 after acquiring an additional 3,600 shares during the period. abrdn plc increased its holdings in shares of AbCellera Biologics by 3.2% in the 4th quarter. abrdn plc now owns 284,263 shares of the company’s stock valued at $2,880,000 after acquiring an additional 8,831 shares during the period. ExodusPoint Capital Management LP increased its holdings in shares of AbCellera Biologics by 3.2% in the 4th quarter. ExodusPoint Capital Management LP now owns 180,350 shares of the company’s stock valued at $1,827,000 after acquiring an additional 5,600 shares during the period. Raymond James & Associates increased its holdings in shares of AbCellera Biologics by 131.2% in the 1st quarter. Raymond James & Associates now owns 47,133 shares of the company’s stock valued at $355,000 after acquiring an additional 26,744 shares during the period. Finally, Voya Investment Management LLC increased its holdings in shares of AbCellera Biologics by 2.2% in the 4th quarter. Voya Investment Management LLC now owns 11,014,862 shares of the company’s stock valued at $111,581,000 after acquiring an additional 237,265 shares during the period. 49.22% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AbCellera Biologics news, CFO Andrew Booth acquired 14,500 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average cost of $6.85 per share, for a total transaction of $99,325.00. Following the transaction, the chief financial officer now directly owns 153,000 shares of the company’s stock, valued at $1,048,050. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AbCellera Biologics news, CFO Andrew Booth acquired 14,500 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average cost of $6.85 per share, for a total transaction of $99,325.00. Following the transaction, the chief financial officer now directly owns 153,000 shares of the company’s stock, valued at $1,048,050. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings Ltd. Thermopylae acquired 153,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average price of $6.52 per share, for a total transaction of $997,560.00. Following the completion of the transaction, the insider now directly owns 56,012,493 shares in the company, valued at $365,201,454.36. The disclosure for this purchase can be found here. Insiders own 32.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ABCL. The Goldman Sachs Group dropped their price objective on shares of AbCellera Biologics from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. SVB Securities dropped their price objective on shares of AbCellera Biologics from $16.00 to $15.00 in a research note on Friday, May 5th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, AbCellera Biologics has an average rating of “Buy” and an average target price of $24.71.

View Our Latest Stock Report on ABCL

AbCellera Biologics Stock Performance

Shares of NASDAQ ABCL opened at $5.58 on Tuesday. The firm has a market capitalization of $1.61 billion, a P/E ratio of -20.67 and a beta of -0.07. AbCellera Biologics Inc. has a one year low of $5.41 and a one year high of $14.97. The company’s fifty day moving average is $6.85 and its two-hundred day moving average is $7.30.

AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last issued its earnings results on Thursday, August 3rd. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $10.10 million for the quarter, compared to analyst estimates of $12.38 million. AbCellera Biologics had a negative net margin of 50.91% and a negative return on equity of 6.05%. The business’s revenue was down 78.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) EPS. On average, sell-side analysts forecast that AbCellera Biologics Inc. will post -0.55 earnings per share for the current fiscal year.

AbCellera Biologics Company Profile

(Free Report)

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 had discovery programs that are either completed, in progress, or under contract with partners. It has a research collaboration and license agreement with Eli Lilly and Company; and a research collaboration with Confo Therapeutics for the discovery of therapeutic antibody candidates targeting two undisclosed GPCR targets.