AbCellera Biologics (NASDAQ:ABCL) Sees Strong Trading Volume – Here’s Why

AbCellera Biologics Inc. (NASDAQ:ABCL) shares saw unusually-strong trading volume on Monday . Approximately 3,627,585 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 5,606,479 shares.The stock last traded at $8.2810 and had previously closed at $7.38.

Analysts Set New Price Targets

A number of analysts have weighed in on ABCL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Monday, April 20th. JonesTrading began coverage on shares of AbCellera Biologics in a research report on Friday, April 10th. They issued a “buy” rating and a $11.00 price target on the stock. Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Cantor Fitzgerald initiated coverage on shares of AbCellera Biologics in a research report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, AbCellera Biologics has an average rating of “Moderate Buy” and a consensus target price of $7.80.

AbCellera Biologics Trading Down 3.4%

The firm has a 50-day moving average of $5.23 and a 200 day moving average of $4.17. The company has a market cap of $2.39 billion, a P/E ratio of -16.34 and a beta of 1.18.

AbCellera Biologics (NASDAQ:ABCL) last issued its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.08. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.The business had revenue of $8.31 million during the quarter, compared to the consensus estimate of $5.41 million. During the same period in the previous year, the company posted ($0.15) earnings per share. On average, equities analysts predict that AbCellera Biologics Inc. will post -0.67 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AssuredPartners Investment Advisors LLC acquired a new stake in AbCellera Biologics in the fourth quarter worth $34,000. OneDigital Investment Advisors LLC acquired a new position in shares of AbCellera Biologics during the third quarter valued at about $52,000. Insigneo Advisory Services LLC acquired a new position in shares of AbCellera Biologics during the third quarter valued at about $52,000. Voleon Capital Management LP bought a new position in shares of AbCellera Biologics during the 3rd quarter worth about $56,000. Finally, Engineers Gate Manager LP bought a new position in shares of AbCellera Biologics during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

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.