IMG Wealth Management Inc. Makes New Investment in AbCellera Biologics Inc. (NASDAQ:ABCL)

IMG Wealth Management Inc. acquired a new position in AbCellera Biologics Inc. (NASDAQ:ABCL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,000 shares of the company’s stock, valued at approximately $56,000.

Other hedge funds have also bought and sold shares of the company. State of New Jersey Common Pension Fund D purchased a new stake in AbCellera Biologics in the 4th quarter worth approximately $36,000. Clarkston Capital Partners LLC purchased a new position in shares of AbCellera Biologics during the 3rd quarter valued at approximately $57,000. Raymond James Financial Inc. purchased a new position in shares of AbCellera Biologics during the 4th quarter valued at approximately $57,000. B. Riley Wealth Advisors Inc. lifted its position in shares of AbCellera Biologics by 58.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 34,000 shares of the company’s stock valued at $88,000 after buying an additional 12,500 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its position in shares of AbCellera Biologics by 328.0% during the 3rd quarter. Quadrature Capital Ltd now owns 59,617 shares of the company’s stock valued at $154,000 after buying an additional 45,688 shares in the last quarter. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Stock Performance

Shares of ABCL stock opened at $2.54 on Tuesday. The stock’s fifty day moving average is $2.96 and its two-hundred day moving average is $2.83. The firm has a market capitalization of $756.89 million, a P/E ratio of -4.16 and a beta of 0.45. AbCellera Biologics Inc. has a fifty-two week low of $2.11 and a fifty-two week high of $4.83.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABCL. KeyCorp decreased their target price on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a research report on Monday, March 3rd. Finally, Stifel Nicolaus decreased their target price on AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, February 28th.

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.