Stifel Nicolaus Has Lowered Expectations for AbCellera Biologics (NASDAQ:ABCL) Stock Price

AbCellera Biologics (NASDAQ:ABCL) had its target price reduced by Stifel Nicolaus from $12.00 to $10.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently issued reports on the stock. KeyCorp lowered their price objective on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a research note on Tuesday, November 5th.

AbCellera Biologics Stock Down 11.3 %

Shares of NASDAQ ABCL opened at $2.59 on Friday. AbCellera Biologics has a 52-week low of $2.31 and a 52-week high of $5.26. The firm has a fifty day moving average of $3.10 and a 200-day moving average of $2.84. The stock has a market capitalization of $765.00 million, a PE ratio of -4.25 and a beta of 0.42.

Hedge Funds Weigh In On AbCellera Biologics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC lifted its holdings in shares of AbCellera Biologics by 333.1% during the 4th quarter. Squarepoint Ops LLC now owns 57,685 shares of the company’s stock valued at $169,000 after acquiring an additional 44,367 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of AbCellera Biologics by 19.8% during the 4th quarter. Two Sigma Advisers LP now owns 2,608,400 shares of the company’s stock valued at $7,643,000 after acquiring an additional 430,800 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of AbCellera Biologics by 28.6% during the 4th quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company’s stock valued at $9,544,000 after acquiring an additional 723,676 shares in the last quarter. Tang Capital Management LLC lifted its holdings in shares of AbCellera Biologics by 12.3% during the 4th quarter. Tang Capital Management LLC now owns 2,582,816 shares of the company’s stock valued at $7,568,000 after acquiring an additional 282,816 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of AbCellera Biologics by 96.7% during the 4th quarter. Millennium Management LLC now owns 1,482,715 shares of the company’s stock valued at $4,344,000 after acquiring an additional 728,828 shares in the last quarter. Institutional investors and hedge funds 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.