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

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

Analyst Ratings Changes

A number of equities analysts have commented on ABCL shares. UBS Group began coverage on AbCellera Biologics in a research note on Monday, October 12th. They issued a “buy” rating and a $18.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Thursday, October 15th. Wall Street Zen upgraded shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a report on Saturday. Cantor Fitzgerald upped their price target on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Jefferies Financial Group started coverage on shares of AbCellera Biologics in a research report on Friday. They set a “buy” rating and a $21.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.60.

AbCellera Biologics Stock Performance

The company’s 50-day moving average price is $12.29 and its 200 day moving average price is $6.85. The stock has a market capitalization of $3.48 billion, a PE ratio of -21.00 and a beta of 1.59.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ABCL. Green Alpha Advisors LLC boosted its stake in AbCellera Biologics by 4.6% in the 3rd quarter. Green Alpha Advisors LLC now owns 22,930 shares of the company’s stock worth $335,000 after purchasing an additional 1,014 shares in the last quarter. Blume Capital Management Inc. boosted its stake in shares of AbCellera Biologics by 22.7% in the 3rd quarter. Blume Capital Management Inc. now owns 5,501 shares of the company’s stock worth $80,000 after buying an additional 1,017 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of AbCellera Biologics by 12.2% during the 3rd quarter. ProShare Advisors LLC now owns 11,235 shares of the company’s stock valued at $164,000 after purchasing an additional 1,224 shares during the period. SBI Securities Co. Ltd. increased its holdings in AbCellera Biologics by 13.7% during the third quarter. SBI Securities Co. Ltd. now owns 14,272 shares of the company’s stock valued at $208,000 after buying an additional 1,721 shares during the last quarter. Finally, AssuredPartners Investment Advisors LLC purchased a new stake in shares of AbCellera Biologics in the 2nd quarter worth $80,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

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.