AbCellera Biologics (NASDAQ:ABCL) Hits New 1-Year Low at $3.84

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research note on Thursday, February 22nd. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $15.86.

AbCellera Biologics Stock Down 1.0 %

The business’s fifty day moving average is $4.70 and its two-hundred day moving average is $4.82. The stock has a market capitalization of $1.13 billion, a PE ratio of -7.44 and a beta of 0.36.

AbCellera Biologics (NASDAQ:ABCL) last posted 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 business had revenue of $9.18 million during the quarter, compared to analysts’ expectations of $9.58 million. Sell-side analysts expect that AbCellera Biologics Inc. will post -0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Worth Asset Management LLC purchased a new position in AbCellera Biologics during the first quarter worth $25,000. Point72 Asset Management L.P. purchased a new position in AbCellera Biologics during the second quarter worth $26,000. Point72 Middle East FZE purchased a new position in AbCellera Biologics during the second quarter worth $30,000. Pacifica Partners Inc. boosted its stake in AbCellera Biologics by 82.9% during the fourth quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock worth $28,000 after buying an additional 2,185 shares during the period. Finally, Belpointe Asset Management LLC boosted its stake in AbCellera Biologics by 55.7% during the first quarter. Belpointe Asset Management LLC now owns 5,300 shares of the company’s stock worth $40,000 after buying an additional 1,896 shares during the period. 61.42% of the stock is owned by hedge funds and other institutional investors.

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.