Maxim Group Downgrades Abpro (NASDAQ:ABP) to Hold

Abpro (NASDAQ:ABP) was downgraded by analysts at Maxim Group from a “buy” rating to a “hold” rating in a report issued on Tuesday, MarketBeat reports.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Abpro in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $4.00.

Abpro Stock Up 3.2%

Shares of ABP stock opened at $0.21 on Tuesday. Abpro has a fifty-two week low of $0.15 and a fifty-two week high of $13.00. The stock has a 50-day simple moving average of $0.22 and a 200 day simple moving average of $0.23.

Abpro (NASDAQ:ABP) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.04) earnings per share for the quarter.

Institutional Investors Weigh In On Abpro

A hedge fund recently bought a new stake in Abpro stock. Goldman Sachs Group Inc. acquired a new position in Abpro Holdings Inc. (NASDAQ:ABP) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 72,106 shares of the company’s stock, valued at approximately $30,000. Goldman Sachs Group Inc. owned approximately 0.14% of Abpro at the end of the most recent quarter. Institutional investors own 23.30% of the company’s stock.

About Abpro

Abpro Holdings Inc is a biotechnology company. The company’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro Holdings Inc, formerly known as Atlantic Coastal Acquisition Corp. II, is based in WOBURN, Mass.