AbCellera Biologics (NASDAQ:ABCL) Trading Down 6.7% – Time to Sell?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price dropped 6.7% during mid-day trading on Tuesday . The company traded as low as $2.80 and last traded at $2.80. Approximately 3,462,943 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 3,498,197 shares. The stock had previously closed at $3.00.

Analyst Ratings Changes

ABCL has been the subject of a number of research analyst reports. Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a research note on Tuesday, November 5th. Stifel Nicolaus restated a “buy” rating and issued a $12.00 price target (down from $14.00) on shares of AbCellera Biologics in a report on Tuesday, November 5th. Finally, KeyCorp cut their price target on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th.

AbCellera Biologics Stock Down 5.0 %

The firm has a market cap of $841.79 million, a P/E ratio of -4.67 and a beta of 0.40. The firm has a fifty day moving average of $2.90 and a 200-day moving average of $2.80.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Monday, November 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. The company had revenue of $6.51 million for the quarter, compared to the consensus estimate of $8.95 million. During the same quarter in the previous year, the company posted ($0.10) EPS. On average, equities analysts forecast that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Institutional Trading of AbCellera Biologics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Resolute Advisors LLC raised its stake in AbCellera Biologics by 7.0% in the third quarter. Resolute Advisors LLC now owns 61,576 shares of the company’s stock valued at $160,000 after buying an additional 4,050 shares during the period. NBC Securities Inc. raised its stake in AbCellera Biologics by 56.0% in the third quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock valued at $29,000 after buying an additional 4,100 shares during the period. State Street Corp raised its stake in AbCellera Biologics by 1.5% in the third quarter. State Street Corp now owns 323,229 shares of the company’s stock valued at $840,000 after buying an additional 4,679 shares during the period. Arcadia Investment Management Corp MI bought a new stake in AbCellera Biologics in the third quarter valued at approximately $26,000. Finally, Evergreen Capital Management LLC bought a new stake in AbCellera Biologics in the second quarter valued at approximately $32,000. Institutional investors own 61.42% of the company’s stock.

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.