Stifel Nicolaus Has Lowered Expectations for AbCellera Biologics (NASDAQ:ABCL) Stock Price

AbCellera Biologics (NASDAQ:ABCL) had its price objective reduced by equities research analysts at Stifel Nicolaus from $12.00 to $10.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 286.10% from the company’s previous close.

A number of other equities research analysts also recently weighed in on ABCL. KeyCorp lowered their price target on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Benchmark restated a “hold” rating on shares of AbCellera Biologics in a research report on Tuesday, November 5th.

AbCellera Biologics Stock Performance

NASDAQ:ABCL opened at $2.59 on Friday. The stock has a fifty day moving average of $3.10 and a 200 day moving average of $2.84. AbCellera Biologics has a 52-week low of $2.31 and a 52-week high of $5.26. The firm has a market capitalization of $765.00 million, a price-to-earnings ratio of -4.25 and a beta of 0.42.

Institutional Investors Weigh In On AbCellera Biologics

Large investors have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in shares of AbCellera Biologics in the third quarter worth about $26,000. DKM Wealth Management Inc. purchased a new position in shares of AbCellera Biologics in the fourth quarter worth about $29,000. State of New Jersey Common Pension Fund D purchased a new position in shares of AbCellera Biologics in the fourth quarter worth about $36,000. Balyasny Asset Management L.P. purchased a new position in shares of AbCellera Biologics in the fourth quarter worth about $40,000. Finally, Mariner LLC purchased a new position in shares of AbCellera Biologics in the fourth quarter worth about $42,000. Hedge funds and other institutional investors 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.