AbCellera Biologics (NASDAQ:ABCL) Shares Down 5.6% – Time to Sell?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price dropped 5.6% during trading on Tuesday . The company traded as low as $4.08 and last traded at $4.2650. Approximately 2,665,212 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 4,846,393 shares. The stock had previously closed at $4.52.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Monday. Leerink Partners reissued a “market perform” rating and issued a $4.00 target price on shares of AbCellera Biologics in a report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Wednesday, October 8th. Finally, Leerink Partnrs cut AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.75.

AbCellera Biologics Price Performance

The stock has a fifty day moving average price of $3.74 and a two-hundred day moving average price of $4.38. The company has a market cap of $1.28 billion, a P/E ratio of -7.50 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL) last posted 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). The business had revenue of $6.51 million during the quarter, compared to analyst estimates of $6.33 million. AbCellera Biologics had a negative net margin of 493.42% and a negative return on equity of 17.21%. As a group, analysts forecast that AbCellera Biologics Inc. will post -0.59 earnings per share for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Large investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of AbCellera Biologics by 248.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,671,063 shares of the company’s stock worth $34,946,000 after buying an additional 11,171,063 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of AbCellera Biologics by 0.6% during the third quarter. Baillie Gifford & Co. now owns 10,422,966 shares of the company’s stock valued at $52,428,000 after acquiring an additional 62,962 shares during the period. Two Sigma Investments LP raised its holdings in AbCellera Biologics by 25.9% during the third quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company’s stock worth $26,031,000 after purchasing an additional 1,064,290 shares in the last quarter. Bank of America Corp DE lifted its position in AbCellera Biologics by 977.8% in the third quarter. Bank of America Corp DE now owns 2,418,304 shares of the company’s stock worth $12,164,000 after purchasing an additional 2,193,939 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in AbCellera Biologics during the 3rd quarter valued at $3,707,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

About AbCellera Biologics

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.