AbCellera Biologics (NASDAQ:ABCL) Hits New 1-Year Low at $2.85

AbCellera Biologics Inc. (NASDAQ:ABCL) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $2.85 and last traded at $2.85, with a volume of 1152374 shares. The stock had previously closed at $2.90.

Analyst Ratings Changes

Separately, KeyCorp decreased their price objective on AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AbCellera Biologics currently has a consensus rating of “Buy” and a consensus target price of $16.17.

AbCellera Biologics Price Performance

The firm has a 50 day moving average price of $3.68 and a 200 day moving average price of $4.59.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.02. The firm had revenue of $9.95 million for the quarter, compared to the consensus estimate of $10.73 million. AbCellera Biologics had a negative return on equity of 12.61% and a negative net margin of 410.47%. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.14) earnings per share. On average, research analysts expect that AbCellera Biologics Inc. will post -0.6 EPS for the current fiscal year.

Institutional Trading of AbCellera Biologics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABCL. Baker BROS. Advisors LP increased its stake in AbCellera Biologics by 20.1% in the 1st quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock worth $124,691,000 after acquiring an additional 4,615,887 shares during the last quarter. Intellectus Partners LLC boosted its holdings in shares of AbCellera Biologics by 1.2% in the 4th quarter. Intellectus Partners LLC now owns 887,283 shares of the company’s stock worth $5,066,000 after purchasing an additional 10,650 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in shares of AbCellera Biologics by 143.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 358,400 shares of the company’s stock worth $1,649,000 after purchasing an additional 211,000 shares during the period. Trexquant Investment LP boosted its holdings in shares of AbCellera Biologics by 458.5% in the 3rd quarter. Trexquant Investment LP now owns 272,158 shares of the company’s stock worth $1,252,000 after purchasing an additional 223,430 shares during the period. Finally, Graham Capital Management L.P. boosted its holdings in shares of AbCellera Biologics by 149.4% in the 3rd quarter. Graham Capital Management L.P. now owns 180,389 shares of the company’s stock worth $830,000 after purchasing an additional 108,060 shares during the period. 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.