AbCellera Biologics Inc. (NASDAQ:ABCL) Short Interest Down 6.7% in October

AbCellera Biologics Inc. (NASDAQ:ABCLGet Rating) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 18,230,000 shares, a drop of 6.7% from the October 15th total of 19,530,000 shares. Approximately 9.4% of the shares of the stock are sold short. Based on an average trading volume of 1,830,000 shares, the short-interest ratio is currently 10.0 days.

Analyst Ratings Changes

A number of equities analysts have commented on ABCL shares. Credit Suisse Group lowered their price objective on AbCellera Biologics from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 10th. SVB Leerink raised their target price on AbCellera Biologics from $13.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, November 9th. Truist Financial initiated coverage on AbCellera Biologics in a report on Wednesday. They issued a “buy” rating and a $29.00 target price on the stock. Finally, Piper Sandler reduced their target price on AbCellera Biologics from $22.00 to $21.00 in a report on Tuesday, November 1st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $28.50.

AbCellera Biologics Stock Up 0.6 %

NASDAQ ABCL opened at $14.16 on Friday. AbCellera Biologics has a twelve month low of $5.42 and a twelve month high of $15.90. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 18.06 and a beta of -0.54. The business’s fifty day moving average is $11.14 and its 200 day moving average is $10.31.

Institutional Investors Weigh In On AbCellera Biologics

Several hedge funds have recently modified their holdings of ABCL. Baillie Gifford & Co. raised its position in shares of AbCellera Biologics by 20.9% in the 2nd quarter. Baillie Gifford & Co. now owns 13,354,715 shares of the company’s stock worth $142,227,000 after acquiring an additional 2,305,950 shares in the last quarter. BlackRock Inc. boosted its stake in AbCellera Biologics by 6.3% during the 3rd quarter. BlackRock Inc. now owns 12,569,140 shares of the company’s stock valued at $124,310,000 after purchasing an additional 743,808 shares during the last quarter. Credit Suisse AG boosted its stake in AbCellera Biologics by 58.1% during the 3rd quarter. Credit Suisse AG now owns 4,101,471 shares of the company’s stock valued at $40,564,000 after purchasing an additional 1,507,513 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of AbCellera Biologics by 54.2% in the 2nd quarter. Renaissance Technologies LLC now owns 4,036,303 shares of the company’s stock worth $42,987,000 after buying an additional 1,418,700 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in AbCellera Biologics by 4.9% in the second quarter. Lazard Asset Management LLC now owns 3,346,497 shares of the company’s stock valued at $35,640,000 after purchasing an additional 156,660 shares during the last quarter. Institutional investors and hedge funds own 44.42% of the company’s stock.

AbCellera Biologics Company Profile

(Get Rating)

AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, artificial intelligence-powered antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed as drugs. As of December 31, 2021, the company had 156 discovery programs that are either completed, in progress, or under contract with 36 partners.

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