AbCellera Biologics (NASDAQ:ABCL) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of AbCellera Biologics (NASDAQ:ABCL) from a hold rating to a sell rating in a report issued on Sunday.

Several other equities analysts have also recently issued reports on the stock. Leerink Partners reaffirmed a “market perform” rating and issued a $4.00 price objective on shares of AbCellera Biologics in a research note on Friday, November 7th. Leerink Partnrs cut shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.75.

AbCellera Biologics Stock Performance

ABCL opened at $3.43 on Friday. The company has a market capitalization of $1.03 billion, a PE ratio of -6.02 and a beta of 0.73. The stock’s fifty day moving average is $3.92 and its 200-day moving average is $4.36. AbCellera Biologics has a one year low of $1.89 and a one year high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). AbCellera Biologics had a negative net margin of 493.42% and a negative return on equity of 17.21%. The firm had revenue of $6.51 million for the quarter, compared to the consensus estimate of $6.33 million. On average, equities research analysts forecast that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new stake in shares of AbCellera Biologics in the 3rd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new position in AbCellera Biologics during the 2nd quarter worth approximately $35,000. OneDigital Investment Advisors LLC acquired a new stake in AbCellera Biologics during the 3rd quarter valued at $52,000. Insigneo Advisory Services LLC purchased a new stake in shares of AbCellera Biologics in the third quarter valued at $52,000. Finally, Voleon Capital Management LP purchased a new stake in shares of AbCellera Biologics in the third quarter valued at $56,000. 61.42% of the stock is 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.