TrueMark Investments LLC Purchases 13,104 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

TrueMark Investments LLC lifted its position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 13.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,957 shares of the company’s stock after buying an additional 13,104 shares during the quarter. TrueMark Investments LLC’s holdings in AbCellera Biologics were worth $498,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacifica Partners Inc. grew its position in shares of AbCellera Biologics by 82.9% during the 4th quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock worth $28,000 after buying an additional 2,185 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of AbCellera Biologics during the 3rd quarter worth $48,000. Signaturefd LLC grew its position in shares of AbCellera Biologics by 306.3% during the 4th quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock worth $61,000 after buying an additional 7,988 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of AbCellera Biologics during the 4th quarter worth $62,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in AbCellera Biologics during the fourth quarter valued at about $81,000. Institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Stock Performance

ABCL stock traded down $0.06 during trading on Tuesday, reaching $2.73. 3,083,456 shares of the company traded hands, compared to its average volume of 1,476,711. The business has a 50 day simple moving average of $3.71 and a 200 day simple moving average of $4.60. AbCellera Biologics Inc. has a 12 month low of $2.71 and a 12 month high of $8.05. The company has a market capitalization of $802.76 million, a price-to-earnings ratio of -5.25 and a beta of 0.45.

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

Analyst Ratings Changes

Separately, KeyCorp dropped their price objective on AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $16.17.

About AbCellera Biologics

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.