AbCellera Biologics (NASDAQ:ABCL) Shares Gap Down – What’s Next?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $5.25, but opened at $4.76. AbCellera Biologics shares last traded at $4.5920, with a volume of 3,796,349 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Monday, April 20th. JonesTrading initiated coverage on AbCellera Biologics in a report on Friday, April 10th. They set a “buy” rating and a $11.00 target price for the company. Finally, Cantor Fitzgerald began coverage on AbCellera Biologics in a research report on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.17.

AbCellera Biologics Price Performance

The firm has a market cap of $1.47 billion, a PE ratio of -9.86 and a beta of 1.02. The business has a fifty day moving average price of $3.78 and a two-hundred day moving average price of $3.83.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.08. The company had revenue of $8.32 million for the quarter, compared to analysts’ expectations of $5.86 million. AbCellera Biologics had a negative return on equity of 15.05% and a negative net margin of 198.37%.During the same quarter in the previous year, the business posted ($0.15) EPS. As a group, sell-side analysts forecast that AbCellera Biologics Inc. will post -0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Several institutional investors and hedge funds have recently modified their holdings of ABCL. Creative Planning increased its position in AbCellera Biologics by 6.9% in the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock worth $141,000 after purchasing an additional 2,656 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in AbCellera Biologics by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,546 shares of the company’s stock valued at $50,000 after purchasing an additional 2,993 shares during the period. Advisory Services Network LLC boosted its position in shares of AbCellera Biologics by 12.9% in the fourth quarter. Advisory Services Network LLC now owns 29,664 shares of the company’s stock valued at $101,000 after acquiring an additional 3,386 shares during the period. Stratos Wealth Advisors LLC boosted its holdings in AbCellera Biologics by 21.1% in the 4th quarter. Stratos Wealth Advisors LLC now owns 23,000 shares of the company’s stock valued at $79,000 after purchasing an additional 4,000 shares during the period. Finally, Raymond James Financial Inc. grew its position in AbCellera Biologics by 17.0% in the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock worth $96,000 after purchasing an additional 4,070 shares during the last quarter. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

AbCellera Biologics Company Profile

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.