AbCellera Biologics (NASDAQ:ABCL) Shares Down 7.6% – What’s Next?

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) were down 7.6% during trading on Wednesday . The stock traded as low as $3.86 and last traded at $3.8450. Approximately 4,484,947 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 4,192,484 shares. The stock had previously closed at $4.16.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Monday, April 20th. Finally, JonesTrading began coverage on AbCellera Biologics in a research note on Friday, April 10th. They set a “buy” rating and a $11.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.40.

AbCellera Biologics Price Performance

The company has a market cap of $1.15 billion, a P/E ratio of -7.76 and a beta of 0.85. The firm’s 50-day moving average is $3.57 and its two-hundred day moving average is $3.88.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.15. AbCellera Biologics had a negative net margin of 198.37% and a negative return on equity of 15.05%. The business had revenue of $44.85 million during the quarter, compared to analyst estimates of $6.31 million. As a group, sell-side analysts expect that AbCellera Biologics Inc. will post -0.89 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State of Michigan Retirement System grew its position in AbCellera Biologics by 712.6% in the third quarter. State of Michigan Retirement System now owns 400,000 shares of the company’s stock worth $2,012,000 after acquiring an additional 350,775 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in AbCellera Biologics during the third quarter worth approximately $1,317,000. DNB Asset Management AS purchased a new stake in AbCellera Biologics during the third quarter valued at approximately $3,301,000. Tudor Investment Corp ET AL bought a new stake in shares of AbCellera Biologics in the 3rd quarter valued at approximately $3,673,000. Finally, Green Alpha Advisors LLC lifted its stake in shares of AbCellera Biologics by 21.2% in the 4th quarter. Green Alpha Advisors LLC now owns 27,592 shares of the company’s stock valued at $94,000 after purchasing an additional 4,817 shares during the last quarter. Institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

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.