Lazard Asset Management LLC Sells 1,391,993 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

Lazard Asset Management LLC lowered its holdings in AbCellera Biologics Inc. (NASDAQ:ABCL) by 40.8% during the first quarter, Holdings Channel.com reports. The firm owned 2,020,012 shares of the company’s stock after selling 1,391,993 shares during the period. Lazard Asset Management LLC’s holdings in AbCellera Biologics were worth $9,150,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacifica Partners Inc. lifted its position in AbCellera Biologics by 78.8% during the 1st quarter. Pacifica Partners Inc. now owns 8,619 shares of the company’s stock worth $39,000 after buying an additional 3,799 shares in the last quarter. Signaturefd LLC raised its stake in shares of AbCellera Biologics by 306.3% in the fourth quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock worth $61,000 after acquiring an additional 7,988 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of AbCellera Biologics during the fourth quarter worth approximately $62,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of AbCellera Biologics during the fourth quarter valued at approximately $81,000. Finally, Seelaus Asset Management LLC bought a new stake in shares of AbCellera Biologics during the first quarter valued at approximately $68,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

Analyst Ratings Changes

Separately, KeyCorp restated an “overweight” rating and issued a $5.00 price objective (down previously from $7.00) on shares of AbCellera Biologics in a research report on Thursday, July 11th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, AbCellera Biologics has a consensus rating of “Buy” and an average target price of $15.83.

AbCellera Biologics Stock Performance

ABCL traded up $0.16 during trading on Friday, reaching $3.26. 693,616 shares of the company’s stock were exchanged, compared to its average volume of 1,529,362. The company’s fifty day moving average price is $3.28 and its 200-day moving average price is $4.17. The firm has a market capitalization of $958.60 million, a PE ratio of -6.27 and a beta of 0.39. AbCellera Biologics Inc. has a fifty-two week low of $2.65 and a fifty-two week high of $7.89.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The business had revenue of $9.95 million during the quarter, compared to the consensus estimate of $10.73 million. AbCellera Biologics had a negative return on equity of 12.61% and a negative net margin of 410.47%. The firm’s revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Research analysts forecast that AbCellera Biologics Inc. will post -0.6 earnings per share for the current fiscal year.

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.