AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) shares traded down 6.8% on Monday . The stock traded as low as $2.26 and last traded at $2.25. 1,098,886 shares changed hands during trading, a decline of 59% from the average session volume of 2,698,962 shares. The stock had previously closed at $2.41.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. Benchmark reissued a "hold" rating on shares of AbCellera Biologics in a report on Monday, March 3rd. KeyCorp raised their price objective 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. Finally, Stifel Nicolaus cut their target price on AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, February 28th.
Read Our Latest Research Report on AbCellera Biologics
AbCellera Biologics Trading Up 2.0 %
The firm's fifty day moving average price is $2.34 and its 200-day moving average price is $2.75. The company has a market cap of $611.77 million, a P/E ratio of -3.36 and a beta of 0.46.
Hedge Funds Weigh In On AbCellera Biologics
Institutional investors have recently added to or reduced their stakes in the company. DKM Wealth Management Inc. acquired a new position in AbCellera Biologics during the 4th quarter worth about $29,000. Stratos Wealth Advisors LLC acquired a new stake in shares of AbCellera Biologics in the first quarter valued at approximately $27,000. State of New Jersey Common Pension Fund D acquired a new position in AbCellera Biologics during the 4th quarter worth $36,000. Janney Montgomery Scott LLC bought a new position in AbCellera Biologics in the 1st quarter valued at $29,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of AbCellera Biologics in the 4th quarter valued at $40,000. 61.42% of the stock is owned by institutional investors.
About AbCellera Biologics
(
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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.
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