AbCellera Biologics (NASDAQ:ABCL) Trading Down 7% – What’s Next?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price dropped 7% during trading on Monday . The company traded as low as $10.44 and last traded at $10.5270. Approximately 3,601,242 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 6,286,006 shares. The stock had previously closed at $11.32.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ABCL. Truist Financial lifted their price objective on shares of AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Stifel Nicolaus increased their target price on AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Cantor Fitzgerald lifted their price target on AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AbCellera Biologics has a consensus rating of “Moderate Buy” and an average price target of $12.83.

AbCellera Biologics Trading Down 6.4%

The stock has a market capitalization of $3.25 billion, a P/E ratio of -19.58 and a beta of 1.20. The stock’s fifty day moving average price is $7.27 and its two-hundred day moving average price is $5.18.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The business had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. As a group, analysts expect that AbCellera Biologics Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ABCL. Creative Planning lifted its holdings in AbCellera Biologics by 6.9% during the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock worth $141,000 after buying an additional 2,656 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of AbCellera Biologics by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,546 shares of the company’s stock worth $50,000 after acquiring an additional 2,993 shares during the period. Advisory Services Network LLC increased its position in shares of AbCellera Biologics by 12.9% during the fourth quarter. Advisory Services Network LLC now owns 29,664 shares of the company’s stock worth $101,000 after acquiring an additional 3,386 shares during the period. Raymond James Financial Inc. raised its stake in shares of AbCellera Biologics by 17.0% in the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock valued at $96,000 after acquiring an additional 4,070 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of AbCellera Biologics by 1.2% in the fourth quarter. Osaic Holdings Inc. now owns 347,321 shares of the company’s stock valued at $1,188,000 after acquiring an additional 4,246 shares in the last quarter. Hedge funds and other institutional investors 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.