IMG Wealth Management Inc. Purchases Shares of 19,000 AbCellera Biologics Inc. (NASDAQ:ABCL)

IMG Wealth Management Inc. purchased a new stake in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,000 shares of the company’s stock, valued at approximately $56,000.

Several other hedge funds have also modified their holdings of ABCL. Walleye Capital LLC acquired a new position in shares of AbCellera Biologics during the third quarter valued at about $668,000. GSA Capital Partners LLP increased its holdings in shares of AbCellera Biologics by 991.3% during the third quarter. GSA Capital Partners LLP now owns 241,866 shares of the company’s stock valued at $629,000 after acquiring an additional 219,703 shares in the last quarter. Moloney Securities Asset Management LLC acquired a new position in shares of AbCellera Biologics during the fourth quarter valued at about $265,000. Erste Asset Management GmbH acquired a new position in shares of AbCellera Biologics during the third quarter valued at about $162,000. Finally, HighTower Advisors LLC increased its holdings in shares of AbCellera Biologics by 577.9% during the fourth quarter. HighTower Advisors LLC now owns 71,086 shares of the company’s stock valued at $208,000 after acquiring an additional 60,600 shares in the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

AbCellera Biologics Trading Up 0.8 %

Shares of NASDAQ:ABCL opened at $2.54 on Tuesday. AbCellera Biologics Inc. has a twelve month low of $2.11 and a twelve month high of $4.83. The company’s 50 day moving average is $2.96 and its 200 day moving average is $2.83. The company has a market cap of $756.89 million, a PE ratio of -4.16 and a beta of 0.45.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ABCL shares. Stifel Nicolaus cut their price target 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. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a report on Monday, March 3rd. Finally, KeyCorp cut their price target on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th.

AbCellera Biologics 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.