AbCellera Biologics (NASDAQ:ABCL) Hits New 12-Month Low at $3.84

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $3.84 and last traded at $3.86, with a volume of 89897 shares traded. The stock had previously closed at $3.92.

Analyst Upgrades and Downgrades

ABCL has been the subject of several research reports. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Thursday, February 22nd. Stifel Nicolaus decreased their price objective on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $15.86.

AbCellera Biologics Stock Performance

The business has a 50-day moving average price of $4.75 and a 200 day moving average price of $4.83. The stock has a market capitalization of $1.16 billion, a P/E ratio of -7.60 and a beta of 0.36.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Tuesday, February 20th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. The company had revenue of $9.18 million for the quarter, compared to analysts’ expectations of $9.58 million. As a group, research analysts forecast that AbCellera Biologics Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Hedge funds have recently modified their holdings of the business. Advisor Group Holdings Inc. boosted its holdings in AbCellera Biologics by 51.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 40,699 shares of the company’s stock worth $397,000 after buying an additional 13,877 shares during the period. JPMorgan Chase & Co. boosted its holdings in AbCellera Biologics by 83.9% in the 1st quarter. JPMorgan Chase & Co. now owns 150,882 shares of the company’s stock worth $1,471,000 after buying an additional 68,844 shares during the period. Acadian Asset Management LLC bought a new position in AbCellera Biologics in the 1st quarter worth $283,000. BlackRock Inc. boosted its holdings in shares of AbCellera Biologics by 3.4% during the 1st quarter. BlackRock Inc. now owns 2,447,299 shares of the company’s stock valued at $23,861,000 after purchasing an additional 80,057 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of AbCellera Biologics by 55.6% during the 1st quarter. Federated Hermes Inc. now owns 1,288,000 shares of the company’s stock valued at $12,558,000 after purchasing an additional 460,153 shares during the last quarter. Institutional investors own 61.42% of the company’s stock.

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.