AbCellera Biologics (NASDAQ:ABCL) Sets New 52-Week Low at $3.76

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) reached a new 52-week low during trading on Thursday . The company traded as low as $3.76 and last traded at $3.77, with a volume of 336789 shares trading hands. The stock had previously closed at $3.90.

Analyst Upgrades and Downgrades

ABCL has been the subject of a number of analyst reports. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research note on Thursday, February 22nd. Stifel Nicolaus lowered their target price on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $15.86.

AbCellera Biologics Stock Down 6.2 %

The company has a 50 day simple moving average of $4.63 and a 200 day simple moving average of $4.81. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -7.02 and a beta of 0.36.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $9.18 million during the quarter, compared to analyst estimates of $9.58 million. As a group, analysts predict that AbCellera Biologics Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ABCL. National Bank of Canada FI boosted its holdings in AbCellera Biologics by 392.7% in the third quarter. National Bank of Canada FI now owns 6,085 shares of the company’s stock valued at $27,000 after acquiring an additional 4,850 shares during the last quarter. Pacifica Partners Inc. boosted its holdings in AbCellera Biologics by 82.9% in the fourth quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock valued at $28,000 after acquiring an additional 2,185 shares during the last quarter. NBC Securities Inc. bought a new stake in AbCellera Biologics in the third quarter valued at approximately $30,000. China Universal Asset Management Co. Ltd. boosted its holdings in AbCellera Biologics by 96.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,423 shares of the company’s stock valued at $34,000 after acquiring an additional 3,638 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of AbCellera Biologics during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds 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.