AbCellera Biologics (NASDAQ:ABCL) Trading Down 3.8%

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report)'s stock price fell 3.8% on Monday . The stock traded as low as $4.31 and last traded at $4.36. 217,048 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,427,757 shares. The stock had previously closed at $4.53.

Analyst Ratings Changes

Several research firms recently weighed in on ABCL. Stifel Nicolaus reduced their price objective on AbCellera Biologics from $21.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, February 21st. Benchmark raised AbCellera Biologics from a "hold" rating to a "buy" rating and set a $9.00 price target on the stock in a research note on Thursday, February 22nd. Finally, KeyCorp started coverage on AbCellera Biologics in a research note on Tuesday, December 5th. They issued an "overweight" rating and a $6.00 price objective for the company. Seven equities 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 $15.86.

AbCellera Biologics Trading Down 2.0 %

The company's 50-day simple moving average is $4.98 and its 200-day simple moving average is $4.88. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -8.42 and a beta of 0.36.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. The business had revenue of $9.18 million during the quarter, compared to analyst estimates of $9.58 million. On average, equities research analysts expect that AbCellera Biologics Inc. will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Institutional investors have recently modified their holdings of the company. Worth Asset Management LLC bought a new stake in shares of AbCellera Biologics in the 1st quarter valued at $25,000. Point72 Asset Management L.P. bought a new stake in shares of AbCellera Biologics in the 2nd quarter valued at $26,000. National Bank of Canada FI boosted its stake in shares of AbCellera Biologics by 392.7% in the 3rd quarter. National Bank of Canada FI now owns 6,085 shares of the company's stock valued at $27,000 after purchasing an additional 4,850 shares during the last quarter. Pacifica Partners Inc. boosted its stake in shares of AbCellera Biologics by 82.9% in the 4th quarter. Pacifica Partners Inc. now owns 4,820 shares of the company's stock valued at $28,000 after purchasing an additional 2,185 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in AbCellera Biologics during the third quarter worth $30,000. 61.42% of the stock is owned by institutional investors.

About AbCellera Biologics

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 had discovery programs that are either completed, in progress, or under contract with partners. It has a research collaboration and license agreement with Eli Lilly and Company; and a research collaboration with Confo Therapeutics for the discovery of therapeutic antibody candidates targeting two undisclosed GPCR targets.