AbCellera Biologics (NASDAQ:ABCL) Stock Price Down 5.5%

AbCellera Biologics Inc. (NASDAQ:ABCL) shares traded down 5.5% during mid-day trading on Monday . The company traded as low as $2.59 and last traded at $2.60. 412,174 shares changed hands during trading, a decline of 74% from the average session volume of 1,575,141 shares. The stock had previously closed at $2.75.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ABCL shares. KeyCorp reiterated an “overweight” rating and set a $5.00 target price (down from $7.00) on shares of AbCellera Biologics in a research report on Thursday, July 11th. Benchmark downgraded AbCellera Biologics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, AbCellera Biologics presently has an average rating of “Moderate Buy” and a consensus price target of $14.20.

AbCellera Biologics Trading Up 0.7 %

The stock has a market capitalization of $808.65 million, a P/E ratio of -5.29 and a beta of 0.37. The business has a 50-day moving average price of $2.80 and a 200 day moving average price of $3.51.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $7.30 million during the quarter, compared to the consensus estimate of $10.12 million. AbCellera Biologics had a negative return on equity of 13.40% and a negative net margin of 463.77%. AbCellera Biologics’s revenue was down 27.7% on a year-over-year basis. During the same period last year, the company earned ($0.11) earnings per share. On average, sell-side analysts predict that AbCellera Biologics Inc. will post -0.55 earnings per share for the current fiscal year.

Institutional Trading of AbCellera Biologics

A number of institutional investors have recently bought and sold shares of the stock. Intellectus Partners LLC lifted its position in AbCellera Biologics by 0.7% in the second quarter. Intellectus Partners LLC now owns 545,533 shares of the company’s stock worth $1,615,000 after buying an additional 3,750 shares during the last quarter. Pacifica Partners Inc. increased its stake in AbCellera Biologics by 78.8% in the first quarter. Pacifica Partners Inc. now owns 8,619 shares of the company’s stock worth $39,000 after purchasing an additional 3,799 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in AbCellera Biologics by 13.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,855 shares of the company’s stock worth $221,000 after purchasing an additional 4,641 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in AbCellera Biologics by 85.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,500 shares of the company’s stock worth $111,000 after purchasing an additional 9,000 shares during the period. Finally, Evergreen Capital Management LLC purchased a new stake in AbCellera Biologics in the second quarter worth $32,000. 61.42% of the stock is currently owned by institutional investors.

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.