The Baker brothers acquired millions of shares of AbCellera Biologics and Fate Therapeutics during the first months of 2024. AbCellera Biologics is a drug discovery business with a hand in more than a dozen experimental drugs in clinical-stage development.
AbCellera Biologics (ABCL) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
AbCellera Biologics is a biotechnology company built to discover new antibodies for other drugmakers. The stock has fallen more than 90% from its all-time high and by 57% from a peak it set last summer.