AbCellera Biologics (NASDAQ:ABCL) PT Lowered to $7.00

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) had its price objective reduced by equities research analysts at KeyCorp from $8.00 to $7.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price target suggests a potential upside of 82.29% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Benchmark upgraded AbCellera Biologics from a "hold" rating to a "buy" rating and set a $9.00 target price on the stock in a research note on Thursday, February 22nd. Stifel Nicolaus reduced their target price on shares of AbCellera Biologics from $21.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, February 21st. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AbCellera Biologics has a consensus rating of "Buy" and an average price target of $16.17.

AbCellera Biologics Trading Down 5.0 %

NASDAQ:ABCL traded down $0.20 during trading hours on Wednesday, hitting $3.84. The stock had a trading volume of 1,332,500 shares, compared to its average volume of 1,397,176. The business has a 50 day simple moving average of $4.41 and a two-hundred day simple moving average of $4.79. AbCellera Biologics has a 1-year low of $3.62 and a 1-year high of $8.05. The company has a market cap of $1.13 billion, a PE ratio of -7.29 and a beta of 0.42.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.02. AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. The business had revenue of $9.95 million during the quarter, compared to the consensus estimate of $10.73 million. During the same quarter last year, the company earned ($0.14) earnings per share. The business's quarterly revenue was down 18.4% compared to the same quarter last year. Research analysts expect that AbCellera Biologics will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

A number of large investors have recently made changes to their positions in ABCL. Pacifica Partners Inc. raised its stake in shares of AbCellera Biologics by 82.9% during the 4th quarter. Pacifica Partners Inc. now owns 4,820 shares of the company's stock worth $28,000 after purchasing an additional 2,185 shares in the last quarter. NBC Securities Inc. bought a new position in shares of AbCellera Biologics during the 3rd quarter valued at $30,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of AbCellera Biologics by 96.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,423 shares of the company's stock valued at $34,000 after purchasing an additional 3,638 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in AbCellera Biologics in the third quarter worth $48,000. Finally, Signaturefd LLC increased its position in AbCellera Biologics by 306.3% during the fourth quarter. Signaturefd LLC now owns 10,596 shares of the company's stock worth $61,000 after buying an additional 7,988 shares during the last quarter. Institutional investors and hedge funds 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.