AbCellera Biologics Inc. (NASDAQ:ABCL) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 19.4% during the third quarter, Holdings Channel reports. The institutional investor owned 11,858,796 shares of the company’s stock after buying an additional 1,929,092 shares during the quarter. Allianz Asset Management GmbH’s holdings in AbCellera Biologics were worth $237,650,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Pacifica Partners Inc. boosted its holdings in shares of AbCellera Biologics by 46.2% in the third quarter. Pacifica Partners Inc. now owns 2,405 shares of the company’s stock valued at $51,000 after acquiring an additional 760 shares during the period. Advisor Group Holdings Inc. increased its position in shares of AbCellera Biologics by 33.4% in the second quarter. Advisor Group Holdings Inc. now owns 6,097 shares of the company’s stock valued at $133,000 after buying an additional 1,526 shares in the last quarter. FORA Capital LLC purchased a new stake in AbCellera Biologics during the 2nd quarter worth about $133,000. Deutsche Bank AG acquired a new stake in AbCellera Biologics in the 3rd quarter worth about $138,000. Finally, Geneos Wealth Management Inc. boosted its stake in AbCellera Biologics by 23.9% in the 3rd quarter. Geneos Wealth Management Inc. now owns 10,337 shares of the company’s stock worth $177,000 after buying an additional 1,997 shares during the last quarter. Hedge funds and other institutional investors own 34.37% of the company’s stock.

A number of brokerages have recently weighed in on ABCL. Benchmark began coverage on AbCellera Biologics in a report on Tuesday, December 21st. They issued a “buy” rating and a $27.00 price target for the company. Piper Sandler initiated coverage on AbCellera Biologics in a report on Thursday, November 18th. They issued an “overweight” rating and a $33.00 price objective for the company. Bloom Burton reissued a “buy” rating on shares of AbCellera Biologics in a research report on Sunday, December 19th. Finally, Zacks Investment Research lowered AbCellera Biologics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 17th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, AbCellera Biologics has an average rating of “Buy” and a consensus price target of $42.50.

In other AbCellera Biologics news, Director Andrew Lo bought 86,938 shares of AbCellera Biologics stock in a transaction on Friday, December 3rd. The stock was acquired at an average cost of $14.02 per share, with a total value of $1,218,870.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings Ltd. Thermopylae acquired 202,960 shares of AbCellera Biologics stock in a transaction dated Thursday, November 11th. The stock was purchased at an average cost of $14.76 per share, with a total value of $2,995,689.60. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 343,398 shares of company stock valued at $5,003,150. Insiders own 45.80% of the company’s stock.

NASDAQ ABCL opened at $10.05 on Friday. The stock has a fifty day simple moving average of $14.07 and a 200 day simple moving average of $16.21. AbCellera Biologics Inc. has a twelve month low of $9.92 and a twelve month high of $55.22.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Monday, November 8th. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). The company had revenue of $5.51 million for the quarter, compared to analyst estimates of $10.51 million. On average, sell-side analysts anticipate that AbCellera Biologics Inc. will post 0.51 EPS for the current fiscal year.

AbCellera Biologics Company Profile

AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, AI-powered drug discovery platform searches and analyzes the database of natural immune systems to find antibodies that can be developed as drugs. As of December 31, 2020, the company had 103 discovery programs that are either completed, in progress, or under contract.

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Institutional Ownership by Quarter for AbCellera Biologics (NASDAQ:ABCL)

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