Wall Street Zen Downgrades AbCellera Biologics (NASDAQ:ABCL) to Sell

AbCellera Biologics (NASDAQ:ABCL) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently commented on ABCL. Leerink Partnrs cut AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Wednesday, October 8th. Stifel Nicolaus lowered their price objective on AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. KeyCorp boosted their price objective on AbCellera Biologics from $5.00 to $10.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Finally, Leerink Partners reissued a “market perform” rating and issued a $4.00 target price on shares of AbCellera Biologics in a report on Friday. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.75.

AbCellera Biologics Trading Down 13.7%

Shares of NASDAQ ABCL opened at $3.91 on Friday. AbCellera Biologics has a 12-month low of $1.89 and a 12-month high of $6.51. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.86 and a beta of 0.70. The firm has a 50 day moving average of $5.09 and a 200 day moving average of $4.01.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The business had revenue of $6.51 million during the quarter, compared to the consensus estimate of $6.33 million. AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%. Sell-side analysts predict that AbCellera Biologics will post -0.59 EPS for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Institutional investors and hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC bought a new position in shares of AbCellera Biologics during the third quarter worth $80,000. Stratos Wealth Advisors LLC purchased a new stake in AbCellera Biologics in the 3rd quarter worth $96,000. State of Michigan Retirement System boosted its holdings in shares of AbCellera Biologics by 712.6% during the 3rd quarter. State of Michigan Retirement System now owns 400,000 shares of the company’s stock valued at $2,012,000 after purchasing an additional 350,775 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of AbCellera Biologics during the third quarter valued at about $25,000. Finally, Baillie Gifford & Co. grew its position in shares of AbCellera Biologics by 0.6% during the third quarter. Baillie Gifford & Co. now owns 10,422,966 shares of the company’s stock valued at $52,428,000 after purchasing an additional 62,962 shares in the last quarter. Institutional investors own 61.42% of the company’s stock.

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.