AbCellera Biologics (NASDAQ:ABCL) Cut to “Sell” at Wall Street Zen

AbCellera Biologics (NASDAQ:ABCL) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Other equities analysts also recently issued research reports about the company. Leerink Partners reissued a “market perform” rating and set a $4.00 price target on shares of AbCellera Biologics in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. Finally, Leerink Partnrs cut AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Three equities 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.75.

AbCellera Biologics Stock Performance

Shares of NASDAQ ABCL opened at $4.12 on Tuesday. The stock has a 50 day moving average price of $3.72 and a 200 day moving average price of $4.40. AbCellera Biologics has a 52 week low of $1.89 and a 52 week high of $6.51. The stock has a market capitalization of $1.23 billion, a PE ratio of -7.23 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly 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). The company had revenue of $6.51 million for the quarter, compared to analyst estimates of $6.33 million. AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%. As a group, research analysts forecast that AbCellera Biologics will post -0.59 EPS for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Institutional investors have recently made changes to their positions in the stock. 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 valued at $141,000 after buying an additional 2,656 shares in the last quarter. Raymond James Financial Inc. grew its stake in AbCellera Biologics by 17.0% in the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock valued at $96,000 after acquiring an additional 4,070 shares during the period. Green Alpha Advisors LLC increased its holdings in shares of AbCellera Biologics by 21.2% during the fourth quarter. Green Alpha Advisors LLC now owns 27,592 shares of the company’s stock valued at $94,000 after acquiring an additional 4,817 shares in the last quarter. Hollencrest Capital Management bought a new stake in shares of AbCellera Biologics during the third quarter valued at approximately $25,000. Finally, XML Financial LLC raised its position in shares of AbCellera Biologics by 21.8% during the third quarter. XML Financial LLC now owns 42,025 shares of the company’s stock worth $211,000 after purchasing an additional 7,525 shares during the period. Institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

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.