AbCellera Biologics (NASDAQ:ABCL) Sets New 52-Week Low at $3.76

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research note on Thursday, February 22nd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $15.86.

AbCellera Biologics Stock Down 6.2 %

The company has a market capitalization of $1.07 billion, a P/E ratio of -7.02 and a beta of 0.36. The company’s 50-day simple moving average is $4.63 and its 200 day simple moving average is $4.81.

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

Institutional Trading of AbCellera Biologics

Several large investors have recently modified their holdings of ABCL. Trexquant Investment LP boosted its holdings in shares of AbCellera Biologics by 458.5% during the 3rd quarter. Trexquant Investment LP now owns 272,158 shares of the company’s stock worth $1,252,000 after buying an additional 223,430 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in shares of AbCellera Biologics by 143.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 358,400 shares of the company’s stock worth $1,649,000 after buying an additional 211,000 shares during the period. Dark Forest Capital Management LP boosted its holdings in AbCellera Biologics by 199.6% in the 3rd quarter. Dark Forest Capital Management LP now owns 278,618 shares of the company’s stock valued at $1,282,000 after purchasing an additional 185,606 shares during the period. GSA Capital Partners LLP boosted its holdings in AbCellera Biologics by 1,268.1% in the 3rd quarter. GSA Capital Partners LLP now owns 146,190 shares of the company’s stock valued at $672,000 after purchasing an additional 135,504 shares during the period. Finally, Graham Capital Management L.P. boosted its holdings in AbCellera Biologics by 149.4% in the 3rd quarter. Graham Capital Management L.P. now owns 180,389 shares of the company’s stock valued at $830,000 after purchasing an additional 108,060 shares during the period. 61.42% of the stock is 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.