AbCellera Biologics (NASDAQ:ABCL) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of AbCellera Biologics (NASDAQ:ABCL) from a hold rating to a sell rating in a research note released on Tuesday.

A number of other equities research analysts have also commented on the stock. Leerink Partners lowered 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 report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.75.

AbCellera Biologics Stock Performance

Shares of ABCL opened at $4.64 on Tuesday. The stock has a 50 day simple moving average of $3.75 and a 200 day simple moving average of $4.40. AbCellera Biologics has a 52-week low of $1.89 and a 52-week high of $6.51. The firm has a market capitalization of $1.39 billion, a PE ratio of -8.14 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate 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 company had revenue of $6.51 million for the quarter, compared to analyst estimates of $6.33 million. Equities research analysts predict that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new stake in AbCellera Biologics during the 3rd quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of AbCellera Biologics in the 2nd quarter valued at about $35,000. J2 Capital Management Inc acquired a new stake in shares of AbCellera Biologics in the second quarter valued at about $45,000. Lantern Wealth Advisors LLC bought a new stake in AbCellera Biologics during the second quarter worth about $51,000. Finally, OneDigital Investment Advisors LLC bought a new stake in AbCellera Biologics during the third quarter worth about $52,000. Institutional investors own 61.42% of the company’s stock.

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.