Diametric Capital LP Purchases Shares of 18,104 AbCellera Biologics Inc. (NASDAQ:ABCL)

Diametric Capital LP acquired a new position in AbCellera Biologics Inc. (NASDAQ:ABCL) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 18,104 shares of the company’s stock, valued at approximately $53,000.

Several other large investors have also modified their holdings of the company. Pier 88 Investment Partners LLC boosted its holdings in AbCellera Biologics by 21.2% during the fourth quarter. Pier 88 Investment Partners LLC now owns 236,900 shares of the company’s stock valued at $694,000 after acquiring an additional 41,400 shares during the period. DnB Asset Management AS lifted its position in shares of AbCellera Biologics by 424.7% during the 4th quarter. DnB Asset Management AS now owns 305,579 shares of the company’s stock worth $895,000 after purchasing an additional 247,342 shares during the last quarter. Norges Bank bought a new stake in AbCellera Biologics during the 4th quarter valued at approximately $3,764,000. EntryPoint Capital LLC grew its holdings in AbCellera Biologics by 44.0% in the 4th quarter. EntryPoint Capital LLC now owns 168,682 shares of the company’s stock valued at $494,000 after buying an additional 51,524 shares during the last quarter. Finally, Guardian Partners Inc. acquired a new stake in AbCellera Biologics in the 4th quarter valued at approximately $5,413,000. 61.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ABCL shares. Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a research report on Monday, March 3rd. KeyCorp reduced their price target on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Stifel Nicolaus dropped their price objective on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, February 28th.

AbCellera Biologics Trading Up 6.2 %

Shares of NASDAQ:ABCL opened at $2.22 on Thursday. The business’s 50 day moving average is $2.79 and its 200-day moving average is $2.81. The firm has a market capitalization of $661.53 million, a PE ratio of -3.64 and a beta of 0.45. AbCellera Biologics Inc. has a 1-year low of $2.02 and a 1-year high of $4.75.

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.