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

AbCellera Biologics (NASDAQ:ABCL) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus upped their price target on AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Cantor Fitzgerald boosted their target price on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Truist Financial upped their target price on shares of AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $13.00 price target on shares of AbCellera Biologics in a research note on Thursday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.86.

AbCellera Biologics Price Performance

Shares of ABCL opened at $12.70 on Friday. The company has a 50-day simple moving average of $9.80 and a two-hundred day simple moving average of $6.67. The firm has a market capitalization of $3.89 billion, a PE ratio of -23.52 and a beta of 1.32. AbCellera Biologics has a one year low of $2.74 and a one year high of $13.18.

AbCellera Biologics (NASDAQ:ABCL) last posted its earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The firm had revenue of $4.05 million for the quarter, compared to analysts’ expectations of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. Analysts expect that AbCellera Biologics will post -0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd purchased a new position in shares of AbCellera Biologics during the second quarter valued at approximately $442,000. NewEdge Advisors LLC lifted its position in AbCellera Biologics by 4,850.7% during the second quarter. NewEdge Advisors LLC now owns 14,852 shares of the company’s stock valued at $117,000 after purchasing an additional 14,552 shares during the period. HighTower Advisors LLC boosted its holdings in AbCellera Biologics by 12.5% in the second quarter. HighTower Advisors LLC now owns 107,933 shares of the company’s stock worth $847,000 after purchasing an additional 12,000 shares during the last quarter. XML Financial LLC boosted its holdings in AbCellera Biologics by 35.7% in the second quarter. XML Financial LLC now owns 57,025 shares of the company’s stock worth $448,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in AbCellera Biologics by 34.8% in the 2nd quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock worth $1,933,000 after purchasing an additional 63,596 shares during the period. Institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

AbCellera Biologics Inc is a biotechnology company that develops antibody-based medicines in partnership with pharmaceutical and biotechnology companies. Its technology platform combines artificial intelligence, machine learning, high-throughput screening, single-cell analysis and other laboratory techniques to identify and evaluate antibody candidates.

The company provides integrated antibody discovery and development services, helping partners move from biological targets and immune-cell samples to optimized therapeutic antibody candidates.