AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 18,430,000 shares, an increase of 6.8% from the January 15th total of 17,260,000 shares. Approximately 8.3% of the company's shares are short sold. Based on an average daily trading volume, of 3,150,000 shares, the short-interest ratio is currently 5.9 days.
Large investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC purchased a new stake in shares of AbCellera Biologics in the 3rd quarter worth about $668,000. JPMorgan Chase & Co. lifted its holdings in AbCellera Biologics by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 355,747 shares of the company's stock worth $925,000 after buying an additional 21,483 shares during the period. GSA Capital Partners LLP boosted its position in AbCellera Biologics by 991.3% during the 3rd 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 purchased a new position in shares of AbCellera Biologics during the 4th quarter worth approximately $265,000. Finally, State Street Corp raised its position in shares of AbCellera Biologics by 1.5% in the 3rd quarter. State Street Corp now owns 323,229 shares of the company's stock worth $840,000 after acquiring an additional 4,679 shares in the last quarter. Institutional investors own 61.42% of the company's stock.
Shares of ABCL stock opened at $3.27 on Friday. AbCellera Biologics has a fifty-two week low of $2.34 and a fifty-two week high of $5.45. The firm has a market cap of $965.85 million, a P/E ratio of -5.36 and a beta of 0.42. The business's 50 day moving average price is $3.06 and its 200-day moving average price is $2.83.
ABCL has been the subject of several analyst reports. Benchmark restated a "hold" rating on shares of AbCellera Biologics in a report on Tuesday, November 5th. KeyCorp cut their target price 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. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $12.00 price target (down from $14.00) on shares of AbCellera Biologics in a report on Tuesday, November 5th.
View Our Latest Report on 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.
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