AbCellera Biologics (NASDAQ:ABCL) Stock Rating Lowered by Wall Street Zen

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

Several other research analysts have also issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. Leerink Partners restated a “market perform” rating and set a $4.00 target price on shares of AbCellera Biologics in a report on Friday, November 7th. Finally, Leerink Partnrs lowered AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.75.

AbCellera Biologics Trading Down 1.4%

AbCellera Biologics stock opened at $4.12 on Tuesday. The company has a market cap of $1.23 billion, a PE ratio of -7.23 and a beta of 0.73. AbCellera Biologics has a 1 year low of $1.89 and a 1 year high of $6.51. The company’s 50-day moving average is $3.72 and its two-hundred day moving average is $4.40.

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

Institutional Trading of AbCellera Biologics

Several hedge funds and other institutional investors have recently modified their holdings of ABCL. Hollencrest Capital Management acquired a new position in shares of AbCellera Biologics during the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in AbCellera Biologics in the 2nd quarter valued at approximately $35,000. J2 Capital Management Inc acquired a new position in AbCellera Biologics during the 2nd quarter worth approximately $45,000. Lantern Wealth Advisors LLC bought a new position in shares of AbCellera Biologics during the 2nd quarter worth approximately $51,000. Finally, OneDigital Investment Advisors LLC bought a new position in shares of AbCellera Biologics during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

About AbCellera Biologics

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.