AbCellera Biologics (NASDAQ:ABCL) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of AbCellera Biologics (NASDAQ:ABCL) from a hold rating to a sell rating in a report issued on Sunday.

Other equities research analysts also recently issued reports about the stock. Leerink Partnrs downgraded shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Leerink Partners reaffirmed a “market perform” rating and set a $4.00 price target on shares of AbCellera Biologics in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $7.75.

AbCellera Biologics Price Performance

Shares of NASDAQ:ABCL opened at $3.90 on Friday. The business’s 50 day simple moving average is $3.83 and its 200 day simple moving average is $4.36. AbCellera Biologics has a 1 year low of $1.89 and a 1 year high of $6.51. The company has a market capitalization of $1.17 billion, a P/E ratio of -6.84 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The company had revenue of $6.51 million for the quarter, compared to the consensus estimate of $6.33 million. AbCellera Biologics had a negative net margin of 493.42% and a negative return on equity of 17.21%. On average, sell-side analysts anticipate that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

A number of institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management acquired a new stake in AbCellera Biologics in the third quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in AbCellera Biologics in the 2nd quarter worth about $35,000. J2 Capital Management Inc bought a new position in AbCellera Biologics in the second quarter valued at about $45,000. Lantern Wealth Advisors LLC acquired a new stake in shares of AbCellera Biologics during the second quarter valued at about $51,000. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of AbCellera Biologics during the third quarter worth about $52,000. 61.42% of the stock is currently owned by institutional investors and hedge funds.

About AbCellera Biologics

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.