AbCellera Biologics (NASDAQ:ABCL) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of AbCellera Biologics (NASDAQ:ABCL) from a hold rating to a sell rating in a research report report published on Tuesday morning.

A number of other research analysts have also recently weighed in on the stock. Leerink Partners reaffirmed a “market perform” rating and set a $4.00 price target on shares of AbCellera Biologics in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Wednesday, October 8th. Finally, Leerink Partnrs lowered shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.75.

AbCellera Biologics Stock Performance

Shares of NASDAQ:ABCL opened at $4.16 on Tuesday. The business’s fifty day moving average price is $3.72 and its two-hundred day moving average price is $4.40. AbCellera Biologics has a one year low of $1.89 and a one year high of $6.51. The stock has a market cap of $1.25 billion, a PE ratio of -7.30 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.02). AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%.The firm had revenue of $6.51 million during the quarter, compared to analysts’ expectations of $6.33 million. As a group, equities research analysts predict that AbCellera Biologics will post -0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ABCL. Invesco Ltd. lifted its holdings in shares of AbCellera Biologics by 114.6% in the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock worth $54,000 after purchasing an additional 12,893 shares during the last quarter. Ballentine Partners LLC bought a new stake in AbCellera Biologics in the second quarter valued at $81,000. XML Financial LLC acquired a new position in shares of AbCellera Biologics during the second quarter valued at $118,000. J2 Capital Management Inc acquired a new position in shares of AbCellera Biologics during the second quarter valued at $45,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of AbCellera Biologics during the second quarter worth about $35,000. 61.42% of the stock is currently owned by institutional investors.

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.