AbCellera Biologics (NASDAQ:ABCL) Hits New 1-Year Low at $2.39

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $2.39 and last traded at $2.40, with a volume of 342326 shares changing hands. The stock had previously closed at $2.43.

Analysts Set New Price Targets

ABCL has been the subject of several research analyst reports. Benchmark lowered shares of AbCellera Biologics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. KeyCorp restated an “overweight” rating and issued a $5.00 price objective (down from $7.00) on shares of AbCellera Biologics in a research note on Thursday, July 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, AbCellera Biologics has a consensus rating of “Moderate Buy” and an average price target of $14.20.

AbCellera Biologics Stock Down 2.1 %

The firm’s fifty day simple moving average is $2.83 and its 200-day simple moving average is $3.67. The company has a market cap of $699.85 million, a PE ratio of -4.67 and a beta of 0.37.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. AbCellera Biologics had a negative net margin of 463.77% and a negative return on equity of 13.40%. The company had revenue of $7.30 million during the quarter, compared to the consensus estimate of $10.12 million. During the same quarter in the prior year, the company posted ($0.11) EPS. The company’s quarterly revenue was down 27.7% compared to the same quarter last year. On average, analysts predict that AbCellera Biologics Inc. will post -0.55 earnings per share for the current year.

Institutional Trading of AbCellera Biologics

Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of AbCellera Biologics by 19.6% in the fourth quarter. Principal Financial Group Inc. now owns 111,188 shares of the company’s stock worth $635,000 after buying an additional 18,217 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of AbCellera Biologics by 13.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,855 shares of the company’s stock valued at $221,000 after purchasing an additional 4,641 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of AbCellera Biologics in the 4th quarter valued at about $81,000. B. Riley Wealth Advisors Inc. lifted its position in shares of AbCellera Biologics by 85.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,500 shares of the company’s stock worth $111,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Pacifica Partners Inc. grew its stake in AbCellera Biologics by 78.8% in the first quarter. Pacifica Partners Inc. now owns 8,619 shares of the company’s stock worth $39,000 after purchasing an additional 3,799 shares in the last quarter. Hedge funds and other 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.