AbCellera Biologics (NASDAQ:ABCL) Sets New 12-Month Low at $3.76

AbCellera Biologics Inc. (NASDAQ:ABCL) shares reached a new 52-week low on Thursday . The company traded as low as $3.76 and last traded at $3.77, with a volume of 336789 shares. The stock had previously closed at $3.90.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Thursday, February 22nd. Stifel Nicolaus dropped their price target on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AbCellera Biologics currently has a consensus rating of “Buy” and a consensus price target of $15.86.

AbCellera Biologics Stock Performance

The company’s 50 day moving average price is $4.56 and its 200 day moving average price is $4.80. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -7.23 and a beta of 0.36.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $9.18 million during the quarter, compared to analyst estimates of $9.58 million. AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. As a group, analysts predict that AbCellera Biologics Inc. will post -0.66 EPS for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Large investors have recently bought and sold shares of the business. PFG Investments LLC acquired a new position in AbCellera Biologics in the first quarter worth $75,000. TrueMark Investments LLC lifted its position in AbCellera Biologics by 13.5% during the 1st quarter. TrueMark Investments LLC now owns 109,957 shares of the company’s stock worth $498,000 after buying an additional 13,104 shares in the last quarter. Pacifica Partners Inc. grew its holdings in AbCellera Biologics by 78.8% during the 1st quarter. Pacifica Partners Inc. now owns 8,619 shares of the company’s stock worth $39,000 after acquiring an additional 3,799 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in AbCellera Biologics by 85.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,500 shares of the company’s stock valued at $111,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of AbCellera Biologics in the fourth quarter worth about $81,000. 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.