AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $3.84 and last traded at $3.86, with a volume of 89897 shares traded. The stock had previously closed at $3.92.
Analyst Ratings Changes
Several research analysts have recently commented on ABCL shares. Stifel Nicolaus lowered their price target on AbCellera Biologics from $21.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, February 21st. Benchmark upgraded AbCellera Biologics from a "hold" rating to a "buy" rating and set a $9.00 target price for the company in a report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $15.86.
Read Our Latest Research Report on AbCellera Biologics
AbCellera Biologics Price Performance
The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -7.52 and a beta of 0.36. The stock has a 50 day simple moving average of $4.73 and a two-hundred day simple moving average of $4.82.
AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its earnings results on Tuesday, February 20th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 12.36% and a negative net margin of 384.99%. The firm had revenue of $9.18 million for the quarter, compared to analyst estimates of $9.58 million. Equities research analysts predict that AbCellera Biologics Inc. will post -0.66 EPS for the current year.
Institutional Trading of AbCellera Biologics
A number of hedge funds and other institutional investors have recently made changes to their positions in ABCL. State Street Corp increased its position in shares of AbCellera Biologics by 1,087.3% during the second quarter. State Street Corp now owns 3,194,309 shares of the company's stock worth $34,019,000 after purchasing an additional 2,925,279 shares in the last quarter. Lazard Asset Management LLC increased its position in AbCellera Biologics by 997.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,189,837 shares of the company's stock valued at $31,100,000 after acquiring an additional 2,899,091 shares during the period. Renaissance Technologies LLC increased its position in AbCellera Biologics by 385.5% in the 1st quarter. Renaissance Technologies LLC now owns 2,617,603 shares of the company's stock valued at $25,522,000 after acquiring an additional 2,078,400 shares during the period. FIL Ltd acquired a new position in AbCellera Biologics in the 4th quarter valued at about $10,711,000. Finally, Northern Trust Corp acquired a new position in AbCellera Biologics in the 2nd quarter valued at about $15,117,000. Institutional investors and hedge funds own 61.42% of the company's stock.
AbCellera Biologics Company Profile
(
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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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