Abpro (NASDAQ:ABP) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Abpro (NASDAQ:ABP) to a strong sell rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently issued reports on the company. Maxim Group cut Abpro from a “buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Abpro in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $120.00.

Abpro Trading Up 0.2%

NASDAQ ABP opened at $5.62 on Friday. Abpro has a 1-year low of $4.55 and a 1-year high of $371.40. The firm’s fifty day simple moving average is $6.14 and its 200-day simple moving average is $6.74. The company has a market capitalization of $15.01 million, a PE ratio of -70.25 and a beta of 0.01.

Abpro (NASDAQ:ABP) last posted its earnings results on Wednesday, August 13th. The company reported ($1.20) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Abpro stock. Goldman Sachs Group Inc. bought a new stake in Abpro Holdings Inc. (NASDAQ:ABP) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 72,106 shares of the company’s stock, valued at approximately $30,000. Goldman Sachs Group Inc. owned 0.14% of Abpro as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 23.30% of the company’s stock.

Abpro Company Profile

Abpro Holdings Inc is a biotechnology company. The company’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro Holdings Inc, formerly known as Atlantic Coastal Acquisition Corp. II, is based in WOBURN, Mass.