Abpro (NASDAQ:ABP) Stock Price Up 0.2% – Still a Buy?

Shares of Abpro Holdings Inc. (NASDAQ:ABP) were up 0.2% during trading on Thursday . The stock traded as high as $4.80 and last traded at $4.79. Approximately 12,770 shares changed hands during trading, a decline of 47% from the average daily volume of 24,173 shares. The stock had previously closed at $4.78.

Wall Street Analyst Weigh In

ABP has been the topic of a number of recent analyst reports. Maxim Group downgraded shares of Abpro from a “buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Wall Street Zen downgraded Abpro to a “strong sell” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Abpro in a research report on Monday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $120.00.

Abpro Stock Up 0.2%

The firm’s 50 day simple moving average is $5.95 and its 200-day simple moving average is $6.52. The company has a market capitalization of $13.03 million, a PE ratio of -1.13 and a beta of -0.02.

Abpro (NASDAQ:ABP) last issued its earnings results on Friday, November 14th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new stake in shares of Abpro in the first quarter valued at about $30,000. Geode Capital Management LLC lifted its position in Abpro by 127.6% during the 2nd quarter. Geode Capital Management LLC now owns 196,494 shares of the company’s stock worth $42,000 after acquiring an additional 110,159 shares in the last quarter. Finally, Yorkville Advisors Global LP purchased a new position in Abpro in the 3rd quarter worth approximately $192,000. Institutional investors and hedge funds 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.