Commonwealth of Pennsylvania Public School Empls Retrmt SYS Makes New Investment in AbCellera Biologics Inc. (NASDAQ:ABCL)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in AbCellera Biologics Inc. (NASDAQ:ABCL) in the 4th quarter, HoldingsChannel.com reports. The firm bought 21,664 shares of the company’s stock, valued at approximately $63,000.

Other hedge funds have also recently modified their holdings of the company. Walleye Capital LLC purchased a new stake in AbCellera Biologics in the third quarter valued at $668,000. Moloney Securities Asset Management LLC acquired a new stake in shares of AbCellera Biologics during the fourth quarter worth about $265,000. Erste Asset Management GmbH purchased a new stake in shares of AbCellera Biologics in the 3rd quarter valued at about $162,000. HighTower Advisors LLC boosted its position in shares of AbCellera Biologics by 577.9% in the 4th quarter. HighTower Advisors LLC now owns 71,086 shares of the company’s stock valued at $208,000 after purchasing an additional 60,600 shares during the period. Finally, Quadrature Capital Ltd grew its stake in AbCellera Biologics by 328.0% during the 3rd quarter. Quadrature Capital Ltd now owns 59,617 shares of the company’s stock worth $154,000 after buying an additional 45,688 shares during the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

AbCellera Biologics Trading Down 2.5 %

Shares of ABCL stock opened at $2.36 on Friday. The company has a market capitalization of $703.25 million, a P/E ratio of -3.87 and a beta of 0.45. The business’s 50 day moving average is $2.87 and its two-hundred day moving average is $2.82. AbCellera Biologics Inc. has a twelve month low of $2.11 and a twelve month high of $4.75.

Wall Street Analyst Weigh In

ABCL has been the subject of a number of research reports. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a research note on Monday, March 3rd. Stifel Nicolaus reduced their price target on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, KeyCorp lowered their price objective on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th.

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.