AbCellera Biologics (NASDAQ:ABCL) Stock Price Down 5.5%

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) traded down 5.5% on Monday . The company traded as low as $2.59 and last traded at $2.60. 412,174 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 1,575,141 shares. The stock had previously closed at $2.75.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Benchmark lowered AbCellera Biologics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. KeyCorp restated an “overweight” rating and set a $5.00 price target (down previously from $7.00) on shares of AbCellera Biologics in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, AbCellera Biologics presently has an average rating of “Moderate Buy” and an average target price of $14.20.

AbCellera Biologics Stock Up 0.7 %

The stock has a market cap of $808.65 million, a PE ratio of -5.29 and a beta of 0.37. The firm has a 50 day moving average price of $2.80 and a 200 day moving average price of $3.51.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. AbCellera Biologics had a negative return on equity of 13.40% and a negative net margin of 463.77%. The firm had revenue of $7.30 million for the quarter, compared to analyst estimates of $10.12 million. During the same quarter last year, the firm posted ($0.11) earnings per share. The business’s revenue for the quarter was down 27.7% on a year-over-year basis. Equities analysts forecast that AbCellera Biologics Inc. will post -0.55 earnings per share for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacifica Partners Inc. grew its stake in AbCellera Biologics by 78.8% in the first quarter. Pacifica Partners Inc. now owns 8,619 shares of the company’s stock valued at $39,000 after purchasing an additional 3,799 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in AbCellera Biologics in the second quarter valued at about $32,000. Vanguard Personalized Indexing Management LLC purchased a new position in AbCellera Biologics in the fourth quarter valued at about $81,000. Seelaus Asset Management LLC purchased a new position in AbCellera Biologics in the first quarter valued at about $68,000. Finally, B. Riley Wealth Advisors Inc. grew its stake in AbCellera Biologics by 85.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,500 shares of the company’s stock valued at $111,000 after purchasing an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

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.