AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report)'s stock price was down 4.9% on Friday . The company traded as low as $3.36 and last traded at $3.30. Approximately 2,075,823 shares were traded during trading, a decline of 36% from the average daily volume of 3,226,030 shares. The stock had previously closed at $3.47.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Benchmark reiterated a "hold" rating on shares of AbCellera Biologics in a research note on Monday, March 3rd. Stifel Nicolaus reduced their price target on shares of AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Truist Financial lowered their target price on AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, KeyCorp increased their price target on shares of AbCellera Biologics from $4.00 to $5.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th.
Read Our Latest Stock Report on ABCL
AbCellera Biologics Stock Performance
The business's fifty day moving average price is $2.43 and its 200-day moving average price is $2.67. The stock has a market cap of $993.75 million, a PE ratio of -5.95 and a beta of 0.36.
AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. The company had revenue of $4.24 million during the quarter, compared to analyst estimates of $7.12 million. AbCellera Biologics had a negative net margin of 737.56% and a negative return on equity of 15.98%. Analysts forecast that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.
Hedge Funds Weigh In On AbCellera Biologics
Large investors have recently made changes to their positions in the company. Stratos Wealth Advisors LLC bought a new stake in shares of AbCellera Biologics during the first quarter valued at approximately $27,000. DKM Wealth Management Inc. bought a new position in shares of AbCellera Biologics during the 4th quarter worth approximately $29,000. Janney Montgomery Scott LLC purchased a new stake in shares of AbCellera Biologics during the 1st quarter valued at $29,000. AssuredPartners Investment Advisors LLC acquired a new stake in AbCellera Biologics in the first quarter worth about $34,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of AbCellera Biologics during the fourth quarter worth $36,000. 61.42% of the stock is owned by hedge funds and other institutional investors.
About AbCellera Biologics
(
Get Free Report)
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.
Further Reading
Before you consider AbCellera Biologics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbCellera Biologics wasn't on the list.
While AbCellera Biologics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
