B. Riley Wealth Advisors Inc. Acquires 12,500 Shares of AbCellera Biologics Inc. (NASDAQ:ABCL)

B. Riley Wealth Advisors Inc. boosted its holdings in AbCellera Biologics Inc. (NASDAQ:ABCL) by 58.1% in the third quarter, HoldingsChannel reports. The firm owned 34,000 shares of the company’s stock after purchasing an additional 12,500 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in AbCellera Biologics were worth $88,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Walleye Capital LLC acquired a new stake in shares of AbCellera Biologics during the 3rd quarter worth approximately $668,000. Renaissance Technologies LLC increased its stake in AbCellera Biologics by 16.0% in the second quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock valued at $5,117,000 after purchasing an additional 239,000 shares in the last quarter. GSA Capital Partners LLP increased its stake in AbCellera Biologics by 991.3% in the third quarter. GSA Capital Partners LLP now owns 241,866 shares of the company’s stock valued at $629,000 after purchasing an additional 219,703 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of AbCellera Biologics during the second quarter valued at about $923,000. Finally, Headlands Technologies LLC bought a new position in shares of AbCellera Biologics during the 2nd quarter worth about $146,000. 61.42% of the stock is owned by institutional investors and hedge funds.

AbCellera Biologics Price Performance

NASDAQ:ABCL opened at $2.85 on Monday. AbCellera Biologics Inc. has a one year low of $2.34 and a one year high of $6.05. The company has a market cap of $841.79 million, a PE ratio of -4.67 and a beta of 0.41. The firm has a 50-day moving average of $2.82 and a 200-day moving average of $2.82.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABCL. Benchmark reaffirmed a “hold” rating on shares of AbCellera Biologics in a research note on Tuesday, November 5th. Stifel Nicolaus reaffirmed a “buy” rating and set a $12.00 target price (down from $14.00) on shares of AbCellera Biologics in a research report on Tuesday, November 5th.

AbCellera Biologics Company 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.