AbCellera Biologics (NASDAQ:ABCL) PT Lowered to $7.00 at KeyCorp

AbCellera Biologics (NASDAQ:ABCL) had its price target reduced by equities research analysts at KeyCorp from $8.00 to $7.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 84.21% from the stock’s previous close.

A number of other equities analysts have also weighed in on ABCL. 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 report on Thursday, February 22nd. Stifel Nicolaus dropped their price target on 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 analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $16.17.

AbCellera Biologics Trading Down 5.9 %

ABCL stock traded down $0.24 during mid-day trading on Wednesday, reaching $3.80. The company’s stock had a trading volume of 941,309 shares, compared to its average volume of 1,392,468. The stock has a market cap of $1.12 billion, a PE ratio of -7.29 and a beta of 0.42. The company’s 50 day moving average is $4.41 and its two-hundred day moving average is $4.79. AbCellera Biologics has a fifty-two week low of $3.62 and a fifty-two week high of $8.05.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The business had revenue of $9.95 million for the quarter, compared to the consensus estimate of $10.73 million. AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. The business’s revenue was down 18.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) EPS. On average, analysts forecast that AbCellera Biologics will post -0.66 earnings per share for the current fiscal year.

Institutional Trading of AbCellera Biologics

Hedge funds have recently modified their holdings of the company. Trexquant Investment LP lifted its stake in AbCellera Biologics by 458.5% in the 3rd quarter. Trexquant Investment LP now owns 272,158 shares of the company’s stock valued at $1,252,000 after purchasing an additional 223,430 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position 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 last quarter. Dark Forest Capital Management LP boosted its stake in shares of 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 in the last quarter. GSA Capital Partners LLP boosted its position in AbCellera Biologics by 1,268.1% in the third quarter. GSA Capital Partners LLP now owns 146,190 shares of the company’s stock valued at $672,000 after buying an additional 135,504 shares in the last quarter. Finally, Graham Capital Management L.P. grew its position in AbCellera Biologics by 149.4% during the 3rd quarter. Graham Capital Management L.P. now owns 180,389 shares of the company’s stock worth $830,000 after acquiring an additional 108,060 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.