AbCellera Biologics (NASDAQ:ABCL) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of AbCellera Biologics (NASDAQ:ABCL) from a hold rating to a sell rating in a report released on Saturday morning.

ABCL has been the subject of a number of other reports. JonesTrading initiated coverage on AbCellera Biologics in a report on Friday, April 10th. They issued a “buy” rating and a $11.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Monday, April 20th. Finally, Cantor Fitzgerald initiated coverage on AbCellera Biologics in a report on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AbCellera Biologics presently has a consensus rating of “Moderate Buy” and an average target price of $7.80.

AbCellera Biologics Trading Down 7.0%

Shares of NASDAQ ABCL opened at $4.09 on Friday. The stock has a market capitalization of $1.25 billion, a PE ratio of -8.52 and a beta of 1.02. The stock has a fifty day simple moving average of $3.85 and a 200-day simple moving average of $3.82. AbCellera Biologics has a twelve month low of $1.94 and a twelve month high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.08. The firm had revenue of $8.32 million during the quarter, compared to analyst estimates 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 period last year, the business posted ($0.15) earnings per share. On average, equities analysts predict that AbCellera Biologics will post -0.67 earnings per share for the current year.

Institutional Trading of AbCellera Biologics

A number of institutional investors have recently bought and sold shares of the business. Creative Planning lifted its holdings in AbCellera Biologics by 6.9% during the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock worth $141,000 after buying an additional 2,656 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in AbCellera Biologics by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,546 shares of the company’s stock worth $50,000 after buying an additional 2,993 shares during the last quarter. Advisory Services Network LLC lifted its holdings in AbCellera Biologics by 12.9% during the 4th quarter. Advisory Services Network LLC now owns 29,664 shares of the company’s stock worth $101,000 after buying an additional 3,386 shares during the last quarter. Stratos Wealth Advisors LLC lifted its holdings in AbCellera Biologics by 21.1% during the 4th quarter. Stratos Wealth Advisors LLC now owns 23,000 shares of the company’s stock worth $79,000 after buying an additional 4,000 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in AbCellera Biologics by 17.0% during the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock worth $96,000 after buying an additional 4,070 shares during the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

AbCellera Biologics Company Profile

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.