Equities research analysts at Truist Financial assumed coverage on shares of AbCellera Biologics (NASDAQ:ABCL – Get Rating) in a report issued on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.
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ABCL has been the topic of a number of other research reports. SVB Leerink increased their price target on AbCellera Biologics from $13.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, November 9th. Credit Suisse Group reduced their price target on AbCellera Biologics from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 10th. Finally, Piper Sandler reduced their price target on AbCellera Biologics from $22.00 to $21.00 in a research report on Tuesday, November 1st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $28.40.
AbCellera Biologics Price Performance
ABCL stock opened at $14.49 on Wednesday. The firm has a market capitalization of $4.15 billion, a P/E ratio of 18.34 and a beta of -0.54. The business’s 50-day moving average is $10.93 and its two-hundred day moving average is $10.21. AbCellera Biologics has a 1 year low of $5.42 and a 1 year high of $16.68.
Insider Transactions at AbCellera Biologics
In other AbCellera Biologics news, major shareholder Holdings Ltd. Thermopylae bought 200,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were acquired at an average price of $11.46 per share, with a total value of $2,292,000.00. Following the transaction, the insider now owns 55,844,391 shares of the company’s stock, valued at $639,976,720.86. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 30.30% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in AbCellera Biologics by 0.5% during the third quarter. State Street Corp now owns 3,210,819 shares of the company’s stock worth $31,755,000 after buying an additional 16,510 shares during the period. Twinbeech Capital LP acquired a new position in AbCellera Biologics during the third quarter worth approximately $3,229,000. Two Sigma Advisers LP increased its position in AbCellera Biologics by 888.8% during the third quarter. Two Sigma Advisers LP now owns 467,700 shares of the company’s stock worth $4,626,000 after buying an additional 420,400 shares during the period. Two Sigma Investments LP increased its position in AbCellera Biologics by 64.9% during the third quarter. Two Sigma Investments LP now owns 1,200,538 shares of the company’s stock worth $11,873,000 after buying an additional 472,616 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in AbCellera Biologics by 70.6% during the third quarter. Price T Rowe Associates Inc. MD now owns 33,714 shares of the company’s stock worth $334,000 after buying an additional 13,955 shares during the period. Institutional investors and hedge funds own 44.42% of the company’s stock.
AbCellera Biologics Company 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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