AbCellera Biologics (NASDAQ:ABCL) Shares Down 5.6% – Should You Sell?

by · The Markets Daily

AbCellera Biologics Inc. (NASDAQ:ABCL – Get Free Report) shares traded down 5.6% during mid-day trading on Tuesday . The stock traded as low as $4.08 and last traded at $4.2650. 2,665,212 shares were traded during trading, a decline of 45% from the average session volume of 4,846,393 shares. The stock had previously closed at $4.52.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ABCL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Wednesday, October 8th. Leerink Partnrs downgraded AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Leerink Partners reissued a “market perform” rating and issued a $4.00 price objective on shares of AbCellera Biologics in a research report on Friday, November 7th. Finally, Wall Street Zen upgraded AbCellera Biologics from a “sell” rating to a “hold” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.75.

View Our Latest Analysis on AbCellera Biologics

AbCellera Biologics Trading Down 5.4%

The stock has a market cap of $1.28 billion, a PE ratio of -7.50 and a beta of 0.73. The company’s 50 day moving average is $3.74 and its 200-day moving average is $4.38.

AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). AbCellera Biologics had a negative net margin of 493.42% and a negative return on equity of 17.21%. The firm had revenue of $6.51 million during the quarter, compared to analysts’ expectations of $6.33 million. As a group, analysts forecast that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Institutional Trading of AbCellera Biologics

Hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in AbCellera Biologics by 248.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,671,063 shares of the company’s stock valued at $34,946,000 after buying an additional 11,171,063 shares during the last quarter. Norges Bank bought a new position in AbCellera Biologics during the 2nd quarter worth approximately $2,164,000. Ballentine Partners LLC acquired a new position in shares of AbCellera Biologics in the 2nd quarter worth approximately $81,000. Bank of Montreal Can increased its holdings in shares of AbCellera Biologics by 46.2% in the 2nd quarter. Bank of Montreal Can now owns 70,089 shares of the company’s stock valued at $240,000 after acquiring an additional 22,155 shares during the last quarter. Finally, State of Michigan Retirement System acquired a new stake in shares of AbCellera Biologics during the 2nd quarter valued at approximately $169,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

(Get Free Report)

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.

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