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

AbCellera Biologics (NASDAQ:ABCL) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Tuesday.

Other equities analysts have also recently issued research reports about the stock. Leerink Partners cut shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.75.

AbCellera Biologics Price Performance

Shares of ABCL opened at $4.28 on Tuesday. The stock has a market capitalization of $1.28 billion, a PE ratio of -7.51 and a beta of 0.73. The business’s fifty day moving average price is $3.73 and its 200 day moving average price is $4.40. AbCellera Biologics has a 12-month low of $1.89 and a 12-month high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last issued 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). AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%.The business had revenue of $6.51 million for the quarter, compared to analyst estimates of $6.33 million. As a group, research analysts anticipate that AbCellera Biologics will post -0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management acquired a new position in AbCellera Biologics during the 3rd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in AbCellera Biologics during the second quarter worth approximately $35,000. J2 Capital Management Inc acquired a new stake in AbCellera Biologics in the second quarter worth approximately $45,000. Lantern Wealth Advisors LLC bought a new position in AbCellera Biologics during the 2nd quarter valued at $51,000. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of AbCellera Biologics during the 3rd quarter valued at $52,000. Institutional investors and hedge funds 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.