AbCellera Biologics (NASDAQ:ABCL) Reaches New 12-Month Low at $10.87

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $10.87 and last traded at $10.95, with a volume of 33166 shares trading hands. The stock had previously closed at $11.67.

A number of research firms have commented on ABCL. Benchmark began coverage on shares of AbCellera Biologics in a research report on Tuesday, December 21st. They issued a “buy” rating and a $27.00 price target on the stock. Zacks Investment Research lowered shares of AbCellera Biologics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 17th. Bloom Burton reiterated a “buy” rating on shares of AbCellera Biologics in a research report on Sunday, December 19th. Finally, Piper Sandler initiated coverage on shares of AbCellera Biologics in a research report on Thursday, November 18th. They set an “overweight” rating and a $33.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $42.50.

The company’s fifty day moving average is $14.07 and its two-hundred day moving average is $16.21.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Monday, November 8th. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). The company had revenue of $5.51 million for the quarter, compared to analyst estimates of $10.51 million. Equities research analysts forecast that AbCellera Biologics Inc. will post 0.51 EPS for the current fiscal year.

In other news, Director Andrew Lo bought 86,938 shares of the stock in a transaction on Friday, December 3rd. The stock was purchased at an average price of $14.02 per share, with a total value of $1,218,870.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Booth bought 53,500 shares of the stock in a transaction on Thursday, November 11th. The stock was purchased at an average cost of $14.74 per share, with a total value of $788,590.00. The disclosure for this purchase can be found here. Insiders purchased 343,398 shares of company stock worth $5,003,150 over the last 90 days. 45.80% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of ABCL. Allianz Asset Management GmbH bought a new position in AbCellera Biologics in the second quarter valued at $218,454,000. Capital World Investors grew its position in AbCellera Biologics by 47.8% in the third quarter. Capital World Investors now owns 19,821,407 shares of the company’s stock valued at $397,221,000 after purchasing an additional 6,405,970 shares in the last quarter. Capital International Investors grew its position in AbCellera Biologics by 283.7% in the second quarter. Capital International Investors now owns 6,894,089 shares of the company’s stock valued at $151,670,000 after purchasing an additional 5,097,178 shares in the last quarter. Guardian Capital Advisors LP bought a new position in AbCellera Biologics in the second quarter valued at $81,428,000. Finally, Intellectus Partners LLC bought a new position in AbCellera Biologics in the second quarter valued at $26,554,000. 34.37% of the stock is owned by institutional investors.

AbCellera Biologics Company Profile (NASDAQ:ABCL)

AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, AI-powered drug discovery platform searches and analyzes the database of natural immune systems to find antibodies that can be developed as drugs. As of December 31, 2020, the company had 103 discovery programs that are either completed, in progress, or under contract.

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