AbCellera Biologics (NASDAQ:ABCL) Hits New 1-Year Low at $3.84

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) hit a new 52-week low during trading on Thursday . The stock traded as low as $3.84 and last traded at $3.86, with a volume of 89897 shares changing hands. The stock had previously closed at $3.92.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Stifel Nicolaus lowered their target price on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.86.

AbCellera Biologics Price Performance

The business’s fifty day moving average is $4.70 and its 200-day moving average is $4.82. The firm has a market cap of $1.13 billion, a PE ratio of -7.44 and a beta of 0.36.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 12.36% and a negative net margin of 384.99%. The company had revenue of $9.18 million for the quarter, compared to analysts’ expectations of $9.58 million. Analysts forecast that AbCellera Biologics Inc. will post -0.66 EPS for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Several large investors have recently modified their holdings of the business. TrueMark Investments LLC increased its stake in shares of AbCellera Biologics by 13.5% in the first quarter. TrueMark Investments LLC now owns 109,957 shares of the company’s stock worth $498,000 after purchasing an additional 13,104 shares in the last quarter. Pacifica Partners Inc. increased its stake in shares of AbCellera Biologics by 78.8% in the first quarter. Pacifica Partners Inc. now owns 8,619 shares of the company’s stock worth $39,000 after purchasing an additional 3,799 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of AbCellera Biologics by 85.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,500 shares of the company’s stock worth $111,000 after purchasing an additional 9,000 shares in the last quarter. Vanguard Group Inc. purchased a new position in shares of AbCellera Biologics in the fourth quarter worth about $75,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of AbCellera Biologics by 131.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 601,241 shares of the company’s stock valued at $3,433,000 after acquiring an additional 341,945 shares during the period. Hedge funds and other institutional investors 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.