AbCellera Biologics (NASDAQ:ABCL) Stock Price Down 5.6% – Time to Sell?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price traded down 5.6% during trading on Monday . The stock traded as low as $7.45 and last traded at $7.6550. Approximately 1,454,663 shares traded hands during trading, a decline of 75% from the average session volume of 5,733,949 shares. The stock had previously closed at $8.11.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ABCL shares. JonesTrading assumed coverage on AbCellera Biologics in a research report on Friday, April 10th. They issued a “buy” rating and a $11.00 target price on the stock. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Tuesday. Cantor Fitzgerald initiated coverage on AbCellera Biologics in a report on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price objective on the stock. Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.33.

AbCellera Biologics Price Performance

The company’s fifty day moving average is $5.61 and its 200-day moving average is $4.32. The stock has a market cap of $2.35 billion, a PE ratio of -16.02 and a beta of 1.14.

AbCellera Biologics (NASDAQ:ABCL) last posted its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.08. The company had revenue of $8.31 million during the quarter, compared to the consensus estimate of $5.41 million. AbCellera Biologics had a negative net margin of 181.75% and a negative return on equity of 14.86%. During the same period in the previous year, the firm posted ($0.15) earnings per share. Analysts expect that AbCellera Biologics Inc. will post -0.67 EPS for the current year.

Institutional Trading of AbCellera Biologics

A number of hedge funds have recently modified their holdings of ABCL. AssuredPartners Investment Advisors LLC purchased a new position in AbCellera Biologics during the fourth quarter valued at approximately $34,000. Engineers Gate Manager LP purchased a new stake in AbCellera Biologics in the 4th quarter worth approximately $38,000. Allworth Financial LP grew its stake in shares of AbCellera Biologics by 857.0% during the 4th quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock worth $39,000 after purchasing an additional 10,096 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of AbCellera Biologics during the 1st quarter worth approximately $46,000. Finally, Magnetar Financial LLC purchased a new position in shares of AbCellera Biologics during the 4th quarter valued at approximately $49,000. Hedge funds and other 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.