AbCellera Biologics (NASDAQ:ABCL) Stock Price Down 6.1% – Should You Sell?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price was down 6.1% during trading on Friday . The company traded as low as $4.36 and last traded at $4.3550. Approximately 2,849,192 shares were traded during trading, a decline of 44% from the average daily volume of 5,076,956 shares. The stock had previously closed at $4.64.

Analyst Upgrades and Downgrades

ABCL has been the topic of several recent research reports. Leerink Partners cut shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday. Finally, Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.75.

AbCellera Biologics Stock Performance

The company has a market cap of $1.26 billion, a price-to-earnings ratio of -7.41 and a beta of 0.73. The business has a fifty day moving average price of $3.75 and a 200 day moving average price of $4.40.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) earnings per share 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, equities analysts anticipate that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. raised its position in AbCellera Biologics by 114.6% in the first quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock valued at $54,000 after purchasing an additional 12,893 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of AbCellera Biologics during the second quarter worth about $81,000. XML Financial LLC acquired a new position in shares of AbCellera Biologics in the second quarter valued at approximately $118,000. J2 Capital Management Inc bought a new position in AbCellera Biologics in the 2nd quarter valued at approximately $45,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in AbCellera Biologics during the 2nd quarter worth approximately $35,000. 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.