AbCellera Biologics (NASDAQ:ABCL) Stock Falls 7.7% – Should You Sell?

AbCellera Biologics Inc. (NASDAQ:ABCL) shares were down 7.7% on Monday. The stock traded as low as $11.53 and last traded at $11.3290. Approximately 604,263 shares traded hands during trading, a decline of 90% from the average daily volume of 5,916,656 shares. The stock had previously closed at $12.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. UBS Group assumed coverage on shares of AbCellera Biologics in a research note on Monday, October 12th. They set a “buy” rating and a $18.00 price objective for the company. Cantor Fitzgerald upped their target price on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Truist Financial increased their target price on shares of AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group began coverage on shares of AbCellera Biologics in a report on Friday. They issued a “buy” rating and a $21.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.60.

AbCellera Biologics Trading Down 7.6%

The firm has a fifty day simple moving average of $12.29 and a two-hundred day simple moving average of $6.85. The stock has a market cap of $3.48 billion, a PE ratio of -21.00 and a beta of 1.59.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. The business had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. Equities analysts forecast that AbCellera Biologics Inc. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of AbCellera Biologics during the 1st quarter valued at $46,000. SG Americas Securities LLC bought a new stake in AbCellera Biologics in the first quarter worth $70,000. AssuredPartners Investment Advisors LLC purchased a new stake in AbCellera Biologics during the second quarter valued at about $80,000. Blume Capital Management Inc. boosted its position in AbCellera Biologics by 22.7% during the third quarter. Blume Capital Management Inc. now owns 5,501 shares of the company’s stock valued at $80,000 after buying an additional 1,017 shares during the period. Finally, Allworth Financial LP bought a new position in shares of AbCellera Biologics during the second quarter valued at about $91,000. 61.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Company Profile

AbCellera Biologics Inc is a biotechnology company headquartered in Vancouver, British Columbia, that develops antibody-based medicines and provides antibody discovery services to pharmaceutical and biotechnology companies. Its platform is designed to identify therapeutic antibodies from immune cells and accelerate their progression from discovery through development.

The company combines high-throughput screening, microfluidics, single-cell analysis, automation, and artificial intelligence to evaluate large numbers of antibody candidates.