AbCellera Biologics (NASDAQ:ABCL) Hits New 12-Month Low at $3.84

AbCellera Biologics Inc. (NASDAQ:ABCL) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $3.84 and last traded at $3.86, with a volume of 89897 shares changing hands. The stock had previously closed at $3.92.

Analyst Ratings Changes

Several analysts have recently issued reports on ABCL shares. Stifel Nicolaus dropped their target price on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Thursday, February 22nd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $15.86.

AbCellera Biologics Stock Performance

The business’s 50 day moving average price is $4.75 and its 200-day moving average price is $4.83. The firm has a market capitalization of $1.16 billion, a PE ratio of -7.60 and a beta of 0.36.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data 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 net margin of 384.99% and a negative return on equity of 12.36%. The firm had revenue of $9.18 million during the quarter, compared to analysts’ expectations of $9.58 million. As a group, analysts anticipate that AbCellera Biologics Inc. will post -0.66 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of AbCellera Biologics by 6.3% in the 3rd quarter. BlackRock Inc. now owns 12,569,140 shares of the company’s stock valued at $124,310,000 after buying an additional 743,808 shares in the last quarter. State Street Corp boosted its stake in AbCellera Biologics by 3.7% during the 1st quarter. State Street Corp now owns 3,389,805 shares of the company’s stock worth $25,559,000 after purchasing an additional 120,418 shares during the period. Lazard Asset Management LLC boosted its stake in AbCellera Biologics by 1.0% during the 2nd quarter. Lazard Asset Management LLC now owns 3,275,301 shares of the company’s stock worth $21,158,000 after purchasing an additional 32,102 shares during the period. Renaissance Technologies LLC boosted its stake in AbCellera Biologics by 32.5% during the 1st quarter. Renaissance Technologies LLC now owns 2,811,503 shares of the company’s stock worth $21,199,000 after purchasing an additional 689,100 shares during the period. Finally, Geode Capital Management LLC raised its position in AbCellera Biologics by 5.2% during the 1st quarter. Geode Capital Management LLC now owns 2,175,548 shares of the company’s stock worth $16,404,000 after buying an additional 108,035 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

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's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.