AbCellera Biologics (NASDAQ:ABCL) Shares Gap Down – Should You Sell?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price gapped down before the market opened on Friday . The stock had previously closed at $4.53, but opened at $3.80. AbCellera Biologics shares last traded at $3.7480, with a volume of 3,376,644 shares changing hands.

Analyst Ratings Changes

ABCL has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their price objective on shares of AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 8th. KeyCorp raised their target price on shares of AbCellera Biologics from $5.00 to $10.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Wall Street Zen upgraded shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Leerink Partners restated a “market perform” rating and set a $4.00 price objective on shares of AbCellera Biologics in a research report on Friday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AbCellera Biologics has a consensus rating of “Moderate Buy” and an average price target of $7.75.

AbCellera Biologics Trading Down 19.1%

The stock has a market capitalization of $1.09 billion, a P/E ratio of -6.68 and a beta of 0.70. The business has a 50-day moving average price of $5.10 and a two-hundred day moving average price of $3.98.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. AbCellera Biologics had a negative return on equity of 16.17% and a negative net margin of 511.88%.The company had revenue of $17.08 million for the quarter, compared to analysts’ expectations of $7.55 million. On average, sell-side analysts forecast that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.

Institutional Trading of AbCellera Biologics

Several large investors have recently made changes to their positions in the company. Creative Planning increased its stake in AbCellera Biologics by 6.9% in the second quarter. Creative Planning now owns 41,003 shares of the company’s stock valued at $141,000 after acquiring an additional 2,656 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of AbCellera Biologics by 17.0% in the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock valued at $96,000 after purchasing an additional 4,070 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of AbCellera Biologics in the 3rd quarter valued at $25,000. Pier 88 Investment Partners LLC raised its holdings in shares of AbCellera Biologics by 2.9% during the 1st quarter. Pier 88 Investment Partners LLC now owns 243,790 shares of the company’s stock worth $544,000 after buying an additional 6,890 shares in the last quarter. Finally, XML Financial LLC lifted its position in shares of AbCellera Biologics by 21.8% during the 3rd quarter. XML Financial LLC now owns 42,025 shares of the company’s stock worth $211,000 after buying an additional 7,525 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.