B. Riley Wealth Advisors Inc. Has $88,000 Stake in AbCellera Biologics Inc. (NASDAQ:ABCL)

B. Riley Wealth Advisors Inc. raised its stake in AbCellera Biologics Inc. (NASDAQ:ABCL) by 58.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,000 shares of the company’s stock after acquiring an additional 12,500 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in AbCellera Biologics were worth $88,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ABCL. State Street Corp lifted its stake in AbCellera Biologics by 1.5% in the 3rd quarter. State Street Corp now owns 323,229 shares of the company’s stock valued at $840,000 after purchasing an additional 4,679 shares during the last quarter. Quadrature Capital Ltd increased its holdings in shares of AbCellera Biologics by 328.0% during the third quarter. Quadrature Capital Ltd now owns 59,617 shares of the company’s stock worth $154,000 after buying an additional 45,688 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of AbCellera Biologics in the 3rd quarter valued at $162,000. Walleye Capital LLC acquired a new stake in shares of AbCellera Biologics during the 3rd quarter valued at $668,000. Finally, Clarkston Capital Partners LLC bought a new stake in AbCellera Biologics during the 3rd quarter worth $57,000. 61.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on ABCL. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a research report on Tuesday, November 5th. Stifel Nicolaus reiterated 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 Trading Up 5.2 %

NASDAQ ABCL opened at $2.85 on Monday. The firm has a market capitalization of $841.79 million, a PE ratio of -4.67 and a beta of 0.41. The business’s 50-day moving average price is $2.82 and its two-hundred day moving average price is $2.82. AbCellera Biologics Inc. has a 12 month low of $2.34 and a 12 month high of $6.05.

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

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.