AbCellera Biologics (NASDAQ:ABCL) Trading Down 6.7% – Time to Sell?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price fell 6.7% during mid-day trading on Tuesday . The stock traded as low as $2.80 and last traded at $2.80. 3,462,943 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 3,498,197 shares. The stock had previously closed at $3.00.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABCL. KeyCorp decreased their target price 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 reaffirmed a “hold” rating on shares of AbCellera Biologics in a report on Tuesday, November 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $12.00 price target (down from $14.00) on shares of AbCellera Biologics in a research note on Tuesday, November 5th.

AbCellera Biologics Trading Down 5.0 %

The firm has a market capitalization of $841.79 million, a P/E ratio of -4.67 and a beta of 0.40. The company has a 50-day moving average of $2.90 and a 200-day moving average of $2.80.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Monday, November 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $6.51 million for the quarter, compared to the consensus estimate of $8.95 million. AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. During the same period in the prior year, the business earned ($0.10) earnings per share. Research analysts predict that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Institutional Trading of AbCellera Biologics

A number of large investors have recently bought and sold shares of ABCL. Citizens Financial Group Inc. RI acquired a new stake in AbCellera Biologics during the 2nd quarter worth about $923,000. Walleye Capital LLC acquired a new stake in shares of AbCellera Biologics in the 3rd quarter valued at about $668,000. Renaissance Technologies LLC grew its stake in shares of AbCellera Biologics by 16.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock valued at $5,117,000 after buying an additional 239,000 shares during the period. GSA Capital Partners LLP grew its stake in shares of AbCellera Biologics by 991.3% in the 3rd quarter. GSA Capital Partners LLP now owns 241,866 shares of the company’s stock valued at $629,000 after buying an additional 219,703 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in AbCellera Biologics by 104.9% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company’s stock valued at $913,000 after purchasing an additional 158,000 shares during the last quarter. 61.42% of the stock is currently owned by institutional investors and hedge funds.

About AbCellera Biologics

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.