Abzena (ABZA) Shares Down 16.7% After Analyst Downgrade
Shares of Abzena (LON:ABZA) traded down 16.7% during mid-day trading on Monday after FinnCap lowered their price target on the stock from GBX 80 to GBX 70. FinnCap currently has a buy rating on the stock. Abzena traded as low as GBX 16.08 ($0.23) and last traded at GBX 16.25 ($0.23). 191,142 shares traded hands during trading, an increase of 616% from the average session volume of 26,706 shares. The stock had previously closed at GBX 19.50 ($0.28).
Separately, Numis Securities restated a “buy” rating and set a GBX 80 ($1.15) target price on shares of Abzena in a research report on Thursday, September 14th.
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Abzena Company Profile
Abzena plc engages in the provision of services and technologies for the development and commercialization of biopharmaceutical products in North America, Europe, the United Kingdom, and internationally. It provides antibody drug conjugate linker, antibody humanization, and protein deimmunisation technologies and solutions, which include phage display, Hybridoma sequencing, and developability assessment solutions for the discovery, isolation, development, and selection of antibodies; immunogenicity assessment and custom assays, as well as Cytokine Screen, an in vitro assay to evaluate the risk of biopharmaceutical products causing cytokine release syndrome prior to its test in clinical trials; antibody and protein engineering solutions, which cover Ig class and isotype switching, antibody reformatting and humanization, protein deimmunisation, affinity maturation, antibody and protein production, and bioassays and bioanalytics; and antibody drug conjugates, such as cysteine and lysine conjugation solutions, as well as ThioBridge, a disulfide rebridging linker.
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