AbCellera Biologics (NASDAQ:ABCL) Shares Gap Down – What’s Next?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price gapped down prior to trading on Friday . The stock had previously closed at $4.53, but opened at $3.80. AbCellera Biologics shares last traded at $3.7480, with a volume of 3,376,644 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ABCL shares. KeyCorp upped their target price on shares of AbCellera Biologics from $5.00 to $10.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Stifel Nicolaus dropped their price objective on AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Leerink Partners reiterated a “market perform” rating and set a $4.00 price target on shares of AbCellera Biologics in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

AbCellera Biologics Trading Down 19.1%

The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -6.68 and a beta of 0.70. The stock’s 50 day moving average price is $5.10 and its 200 day moving average price is $3.98.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $17.08 million for the quarter, compared to analyst estimates of $7.55 million. AbCellera Biologics had a negative return on equity of 16.17% and a negative net margin of 511.88%. On average, research analysts expect that AbCellera Biologics Inc. will post -0.59 earnings per share for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Large investors have recently made changes to their positions in the stock. Hollencrest Capital Management acquired a new position in AbCellera Biologics during the third quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of AbCellera Biologics in the 2nd quarter valued at about $35,000. Stratos Wealth Advisors LLC acquired a new stake in AbCellera Biologics in the 1st quarter valued at about $27,000. J2 Capital Management Inc bought a new position in AbCellera Biologics during the second quarter worth about $45,000. Finally, Lantern Wealth Advisors LLC acquired a new position in AbCellera Biologics during the second quarter worth approximately $51,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

About AbCellera Biologics

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.