AbCellera Biologics (NASDAQ:ABCL) Trading Down 5.6% – What’s Next?

AbCellera Biologics Inc. (NASDAQ:ABCL) shares were down 5.6% during trading on Monday . The stock traded as low as $7.45 and last traded at $7.6550. Approximately 1,454,663 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 5,733,949 shares. The stock had previously closed at $8.11.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABCL. JonesTrading started coverage on AbCellera Biologics in a research note on Friday, April 10th. They set a “buy” rating and a $11.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Monday, April 20th. Cantor Fitzgerald assumed coverage on shares of AbCellera Biologics in a research note on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target on the stock. Finally, Wall Street Zen cut shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, AbCellera Biologics presently has an average rating of “Moderate Buy” and an average price target of $7.80.

AbCellera Biologics Stock Performance

The company has a 50 day simple moving average of $5.47 and a 200 day simple moving average of $4.26. The company has a market capitalization of $2.45 billion, a PE ratio of -16.64 and a beta of 1.14.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.08. The business had revenue of $8.31 million for the quarter, compared to the consensus estimate of $5.41 million. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.During the same quarter last year, the business posted ($0.15) earnings per share. As a group, equities research analysts anticipate that AbCellera Biologics Inc. will post -0.67 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of AbCellera Biologics in the fourth quarter valued at about $26,938,000. Two Sigma Investments LP boosted its position in AbCellera Biologics by 25.9% during the third quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company’s stock worth $26,031,000 after acquiring an additional 1,064,290 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in AbCellera Biologics by 1,636.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company’s stock worth $14,858,000 after acquiring an additional 4,094,268 shares during the last quarter. Bank of America Corp DE grew its stake in AbCellera Biologics by 13.9% during the 1st quarter. Bank of America Corp DE now owns 2,999,936 shares of the company’s stock valued at $10,470,000 after acquiring an additional 367,064 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in AbCellera Biologics by 146.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company’s stock valued at $6,142,000 after acquiring an additional 1,065,888 shares in the last quarter. Hedge funds and other institutional investors own 61.42% of the company’s stock.

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.