Stifel Nicolaus Lowers AbCellera Biologics (NASDAQ:ABCL) Price Target to $10.00

AbCellera Biologics (NASDAQ:ABCL) had its price objective reduced by investment analysts at Stifel Nicolaus from $12.00 to $10.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 241.88% from the company’s current price.

A number of other research firms also recently commented on ABCL. Benchmark restated a “hold” rating on shares of AbCellera Biologics in a research report on Tuesday, November 5th. KeyCorp reduced their price objective on shares of 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 Price Performance

Shares of NASDAQ ABCL opened at $2.93 on Friday. The company has a market capitalization of $863.96 million, a P/E ratio of -4.80 and a beta of 0.42. The company has a 50 day simple moving average of $3.10 and a 200-day simple moving average of $2.84. AbCellera Biologics has a 1 year low of $2.34 and a 1 year high of $5.26.

Institutional Investors Weigh In On AbCellera Biologics

Institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC lifted its stake in AbCellera Biologics by 333.1% during the 4th quarter. Squarepoint Ops LLC now owns 57,685 shares of the company’s stock worth $169,000 after acquiring an additional 44,367 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of AbCellera Biologics by 19.8% during the fourth quarter. Two Sigma Advisers LP now owns 2,608,400 shares of the company’s stock worth $7,643,000 after purchasing an additional 430,800 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of AbCellera Biologics by 28.6% in the fourth quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company’s stock valued at $9,544,000 after purchasing an additional 723,676 shares during the period. Tang Capital Management LLC increased its stake in AbCellera Biologics by 12.3% during the 4th quarter. Tang Capital Management LLC now owns 2,582,816 shares of the company’s stock worth $7,568,000 after buying an additional 282,816 shares during the period. Finally, Millennium Management LLC boosted its position in AbCellera Biologics by 96.7% in the 4th quarter. Millennium Management LLC now owns 1,482,715 shares of the company’s stock valued at $4,344,000 after buying an additional 728,828 shares during the period. 61.42% of the stock is 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.