Moloney Securities Asset Management LLC Makes New Investment in AbCellera Biologics Inc. (NASDAQ:ABCL)

Moloney Securities Asset Management LLC purchased a new position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 90,400 shares of the company’s stock, valued at approximately $265,000.

A number of other hedge funds have also recently modified their holdings of the business. Walleye Capital LLC bought a new position in AbCellera Biologics in the 3rd quarter worth $668,000. JPMorgan Chase & Co. raised its stake in shares of AbCellera Biologics by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 355,747 shares of the company’s stock worth $925,000 after buying an additional 21,483 shares during the period. GSA Capital Partners LLP raised its stake 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 period. State Street Corp lifted its position in shares of AbCellera Biologics by 1.5% during the 3rd quarter. State Street Corp now owns 323,229 shares of the company’s stock valued at $840,000 after buying an additional 4,679 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of AbCellera Biologics by 10.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 62,629 shares of the company’s stock valued at $184,000 after acquiring an additional 5,955 shares during the period. Institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

ABCL stock opened at $3.02 on Tuesday. AbCellera Biologics Inc. has a 1-year low of $2.34 and a 1-year high of $5.46. The business has a 50 day simple moving average of $3.04 and a two-hundred day simple moving average of $2.83. The company has a market capitalization of $892.02 million, a price-to-earnings ratio of -4.95 and a beta of 0.42.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Stifel Nicolaus restated a “buy” rating and set a $12.00 target price (down previously from $14.00) on shares of AbCellera Biologics in a research note on Tuesday, November 5th. KeyCorp lowered their target price on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a research note 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.