AbCellera Biologics Inc. (NASDAQ:ABCL) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its holdings in AbCellera Biologics Inc. (NASDAQ:ABCL) by 40.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,020,012 shares of the company’s stock after selling 1,391,993 shares during the period. Lazard Asset Management LLC owned about 0.69% of AbCellera Biologics worth $9,150,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ABCL. Raymond James Financial Services Advisors Inc. purchased a new position in shares of AbCellera Biologics during the 4th quarter valued at approximately $62,000. China Universal Asset Management Co. Ltd. grew its holdings in AbCellera Biologics by 352.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,566 shares of the company’s stock worth $192,000 after acquiring an additional 26,143 shares in the last quarter. Signaturefd LLC increased its position in shares of AbCellera Biologics by 306.3% in the 4th quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock worth $61,000 after purchasing an additional 7,988 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of AbCellera Biologics by 13.5% in the 4th quarter. Handelsbanken Fonder AB now owns 45,400 shares of the company’s stock valued at $259,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Intellectus Partners LLC lifted its position in shares of AbCellera Biologics by 1.2% during the fourth quarter. Intellectus Partners LLC now owns 887,283 shares of the company’s stock worth $5,066,000 after purchasing an additional 10,650 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Trading Up 5.2 %

ABCL traded up $0.16 during trading on Friday, reaching $3.26. 693,616 shares of the company were exchanged, compared to its average volume of 1,529,362. The stock has a market cap of $958.60 million, a P/E ratio of -6.27 and a beta of 0.39. AbCellera Biologics Inc. has a 52 week low of $2.65 and a 52 week high of $7.89. The firm has a 50 day moving average of $3.28 and a 200 day moving average of $4.17.

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

Analyst Upgrades and Downgrades

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

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.