Pier 88 Investment Partners LLC Boosts Stock Position in AbCellera Biologics Inc. (NASDAQ:ABCL)

Pier 88 Investment Partners LLC lifted its position in shares of AbCellera Biologics Inc. (NASDAQ:ABCL) by 21.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 195,500 shares of the company’s stock after purchasing an additional 33,880 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in AbCellera Biologics were worth $508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intellectus Partners LLC lifted its stake in AbCellera Biologics by 0.7% in the second quarter. Intellectus Partners LLC now owns 545,533 shares of the company’s stock worth $1,615,000 after purchasing an additional 3,750 shares during the last quarter. Resolute Advisors LLC grew its position in AbCellera Biologics by 7.0% during the 3rd quarter. Resolute Advisors LLC now owns 61,576 shares of the company’s stock worth $160,000 after acquiring an additional 4,050 shares during the last quarter. NBC Securities Inc. boosted its stake in shares of AbCellera Biologics by 56.0% during the third quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock valued at $29,000 after purchasing an additional 4,100 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of AbCellera Biologics in the third quarter worth approximately $26,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of AbCellera Biologics in the second quarter worth $32,000. 61.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Stock Performance

Shares of ABCL opened at $2.92 on Thursday. AbCellera Biologics Inc. has a one year low of $2.34 and a one year high of $6.05. The company has a 50-day simple moving average of $2.66 and a two-hundred day simple moving average of $3.01.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $6.51 million for the quarter, compared to the consensus estimate of $8.95 million. AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. As a group, equities research analysts predict that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Stifel Nicolaus restated a “buy” rating and issued a $12.00 price objective (down previously from $14.00) on shares of AbCellera Biologics in a research report on Tuesday, November 5th. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a research report on Tuesday, November 5th.

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.