AbCellera Biologics (NASDAQ:ABCL) Sets New 52-Week Low at $2.70

AbCellera Biologics Inc. (NASDAQ:ABCL) hit a new 52-week low on Tuesday . The stock traded as low as $2.70 and last traded at $2.72, with a volume of 809779 shares changing hands. The stock had previously closed at $2.78.

Analyst Upgrades and Downgrades

Separately, KeyCorp lowered their target price on shares of AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AbCellera Biologics presently has a consensus rating of “Buy” and an average price target of $16.17.

AbCellera Biologics Price Performance

The business’s 50-day moving average is $3.60 and its two-hundred day moving average is $4.52.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $9.95 million for the quarter, compared to the consensus estimate of $10.73 million. AbCellera Biologics had a negative net margin of 410.47% and a negative return on equity of 12.61%. The firm’s revenue was down 18.4% compared to the same quarter last year. During the same period last year, the company earned ($0.14) earnings per share. Research analysts predict that AbCellera Biologics Inc. will post -0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Baker BROS. Advisors LP lifted its position in shares of AbCellera Biologics by 20.1% in the first quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock valued at $124,691,000 after buying an additional 4,615,887 shares during the last quarter. Intellectus Partners LLC lifted its holdings in AbCellera Biologics by 1.2% during the 4th quarter. Intellectus Partners LLC now owns 887,283 shares of the company’s stock valued at $5,066,000 after purchasing an additional 10,650 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its position in AbCellera Biologics by 143.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 358,400 shares of the company’s stock worth $1,649,000 after purchasing an additional 211,000 shares during the period. Trexquant Investment LP increased its holdings in shares of AbCellera Biologics by 458.5% in the third quarter. Trexquant Investment LP now owns 272,158 shares of the company’s stock valued at $1,252,000 after purchasing an additional 223,430 shares during the last quarter. Finally, Graham Capital Management L.P. raised its position in shares of AbCellera Biologics by 149.4% in the third quarter. Graham Capital Management L.P. now owns 180,389 shares of the company’s stock valued at $830,000 after purchasing an additional 108,060 shares during the period. 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.