AbCellera Biologics (NASDAQ:ABCL) Receives “Hold” Rating from Benchmark

AbCellera Biologics (NASDAQ:ABCL)‘s stock had its “hold” rating restated by stock analysts at Benchmark in a research note issued on Tuesday, Benzinga reports.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus reiterated a “buy” rating and set a $12.00 target price (down previously from $14.00) on shares of AbCellera Biologics in a report on Tuesday. KeyCorp reissued an “overweight” rating and set a $5.00 price target (down from $7.00) on shares of AbCellera Biologics in a research report on Thursday, July 11th.

AbCellera Biologics Trading Down 7.6 %

Shares of NASDAQ:ABCL traded down $0.22 during midday trading on Tuesday, hitting $2.67. 2,193,953 shares of the stock were exchanged, compared to its average volume of 1,623,951. The stock has a market cap of $786.77 million, a P/E ratio of -4.96 and a beta of 0.35. AbCellera Biologics has a twelve month low of $2.34 and a twelve month high of $6.05. The company has a 50 day moving average price of $2.62 and a 200-day moving average price of $3.06.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 463.77% and a negative return on equity of 13.40%. The company had revenue of $6.51 million for the quarter, compared to analyst estimates of $8.95 million. During the same period in the prior year, the company earned ($0.10) EPS. On average, equities research analysts expect that AbCellera Biologics will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ABCL. Baker BROS. Advisors LP grew its stake in shares of AbCellera Biologics by 20.1% in the first quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock worth $124,691,000 after purchasing an additional 4,615,887 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in AbCellera Biologics during the second quarter valued at about $923,000. Renaissance Technologies LLC boosted its stake in AbCellera Biologics by 16.0% during the second quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock valued at $5,117,000 after buying an additional 239,000 shares in the last quarter. GSA Capital Partners LLP boosted its stake in AbCellera Biologics by 991.3% during the third quarter. GSA Capital Partners LLP now owns 241,866 shares of the company’s stock valued at $629,000 after buying an additional 219,703 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in AbCellera Biologics by 104.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company’s stock valued at $913,000 after buying an additional 158,000 shares in the last quarter. Institutional investors own 61.42% of the company’s stock.

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.