Abpro (NASDAQ:ABP) Stock Price Up 0.2% – Still a Buy?

by · The Markets Daily

Abpro Holdings Inc. (NASDAQ:ABP – Get Free Report) shares were up 0.2% during trading on Thursday . The stock traded as high as $4.80 and last traded at $4.79. Approximately 12,770 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 24,173 shares. The stock had previously closed at $4.78.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ABP shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Abpro in a report on Monday. Maxim Group downgraded Abpro from a “buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, Wall Street Zen lowered shares of Abpro to a “strong sell” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Abpro presently has a consensus rating of “Reduce” and an average price target of $120.00.

Read Our Latest Stock Report on ABP

Abpro Stock Performance

The stock has a market cap of $13.76 million, a PE ratio of -1.20 and a beta of -0.02. The business’s fifty day moving average price is $5.94 and its 200-day moving average price is $6.51.

Abpro (NASDAQ:ABP – Get Free Report) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($1.20) by $0.57.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. purchased a new position in shares of Abpro during the first quarter worth approximately $30,000. Geode Capital Management LLC increased its position in Abpro by 127.6% during the 2nd quarter. Geode Capital Management LLC now owns 196,494 shares of the company’s stock valued at $42,000 after buying an additional 110,159 shares in the last quarter. Finally, Yorkville Advisors Global LP acquired a new position in Abpro during the 3rd quarter valued at approximately $192,000. Hedge funds and other institutional investors own 23.30% of the company’s stock.

Abpro Company Profile

(Get Free Report)

Abpro Holdings Inc is a biotechnology company. The company’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro Holdings Inc, formerly known as Atlantic Coastal Acquisition Corp. II, is based in WOBURN, Mass.

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