AbCellera Biologics (NASDAQ:ABCL) Given New $4.00 Price Target at KeyCorp

AbCellera Biologics (NASDAQ:ABCL) had its price target dropped by investment analysts at KeyCorp from $5.00 to $4.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price would indicate a potential upside of 30.72% from the stock’s current price.

ABCL has been the topic of a number of other reports. Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a research note on Tuesday, November 5th. Stifel Nicolaus reissued a “buy” rating and issued a $12.00 price target (down previously from $14.00) on shares of AbCellera Biologics in a research report on Tuesday, November 5th.

AbCellera Biologics Stock Down 6.7 %

Shares of AbCellera Biologics stock traded down $0.22 on Wednesday, hitting $3.06. 3,121,659 shares of the company were exchanged, compared to its average volume of 3,381,208. AbCellera Biologics has a 1-year low of $2.34 and a 1-year high of $5.93. The stock has a market capitalization of $903.82 million, a price-to-earnings ratio of -5.02 and a beta of 0.40. The company has a 50-day moving average price of $2.89 and a 200 day moving average price of $2.79.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. The business had revenue of $6.51 million during the quarter, compared to analysts’ expectations of $8.95 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. Research analysts forecast that AbCellera Biologics will post -0.59 EPS for the current year.

Institutional Trading of AbCellera Biologics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI purchased a new stake in shares of AbCellera Biologics in the 3rd quarter valued at about $26,000. Evergreen Capital Management LLC purchased a new stake in AbCellera Biologics in the second quarter valued at approximately $32,000. NBC Securities Inc. lifted its stake in AbCellera Biologics by 56.0% in the third quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock valued at $29,000 after buying an additional 4,100 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of AbCellera Biologics in the third quarter valued at approximately $54,000. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of AbCellera Biologics by 104.8% during the second quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company’s stock worth $64,000 after acquiring an additional 11,000 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

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.