AbCellera Biologics Inc. (NASDAQ:ABCL – Get Free Report) was down 5.8% on Wednesday after Stifel Nicolaus lowered their price target on the stock from $21.00 to $17.00. Stifel Nicolaus currently has a buy rating on the stock. AbCellera Biologics traded as low as $4.81 and last traded at $5.00. Approximately 468,652 shares were traded during trading, a decline of 65% from the average daily volume of 1,335,250 shares. The stock had previously closed at $5.31.
A number of other research analysts have also recently commented on ABCL. Bloom Burton reaffirmed a “buy” rating on shares of AbCellera Biologics in a research note on Friday, November 3rd. KeyCorp began coverage on AbCellera Biologics in a research note on Tuesday, December 5th. They set an “overweight” rating and a $6.00 target price on the stock. Finally, Benchmark cut AbCellera Biologics from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, AbCellera Biologics has an average rating of “Moderate Buy” and an average target price of $20.00.
Institutional Trading of AbCellera Biologics
A number of large investors have recently modified their holdings of the company. Advisor Group Holdings Inc. lifted its holdings in AbCellera Biologics by 51.7% during the first quarter. Advisor Group Holdings Inc. now owns 40,699 shares of the company’s stock worth $397,000 after buying an additional 13,877 shares during the period. JPMorgan Chase & Co. lifted its holdings in AbCellera Biologics by 83.9% during the first quarter. JPMorgan Chase & Co. now owns 150,882 shares of the company’s stock worth $1,471,000 after buying an additional 68,844 shares during the period. Acadian Asset Management LLC purchased a new stake in AbCellera Biologics during the first quarter worth $283,000. BlackRock Inc. lifted its holdings in AbCellera Biologics by 3.4% during the first quarter. BlackRock Inc. now owns 2,447,299 shares of the company’s stock worth $23,861,000 after buying an additional 80,057 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in AbCellera Biologics by 55.6% during the first quarter. Federated Hermes Inc. now owns 1,288,000 shares of the company’s stock worth $12,558,000 after buying an additional 460,153 shares during the period. Hedge funds and other institutional investors own 47.39% of the company’s stock.
AbCellera Biologics Price Performance
The business has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $5.04. The company has a market cap of $1.41 billion, a PE ratio of -10.67 and a beta of 0.38.
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 had discovery programs that are either completed, in progress, or under contract with partners. It has a research collaboration and license agreement with Eli Lilly and Company; and a research collaboration with Confo Therapeutics for the discovery of therapeutic antibody candidates targeting two undisclosed GPCR targets.