AbCellera Biologics (NASDAQ:ABCL) Hits New 52-Week Low at $2.65

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) hit a new 52-week low on Monday . The company traded as low as $2.65 and last traded at $2.70, with a volume of 932943 shares trading hands. The stock had previously closed at $2.92.

Wall Street Analysts Forecast Growth

Separately, KeyCorp reiterated an “overweight” rating and set a $5.00 price target (down previously from $7.00) on shares of AbCellera Biologics in a report on Thursday, July 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $14.20.

AbCellera Biologics Stock Performance

The company has a market capitalization of $814.53 million, a PE ratio of -5.62 and a beta of 0.39. The firm’s 50-day simple moving average is $3.21 and its 200 day simple moving average is $4.09.

AbCellera Biologics (NASDAQ:ABCL) last issued its earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.02. The company had revenue of $9.95 million for the quarter, compared to analyst estimates of $10.73 million. AbCellera Biologics had a negative net margin of 410.47% and a negative return on equity of 12.61%. The business’s revenue was down 18.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) EPS. As a group, equities analysts anticipate that AbCellera Biologics Inc. will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Institutional investors and hedge funds have recently made changes to their positions in the business. Baker BROS. Advisors LP raised 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 valued at $124,691,000 after purchasing an additional 4,615,887 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of AbCellera Biologics during the 1st quarter valued at about $454,000. State Board of Administration of Florida Retirement System acquired a new position in shares of AbCellera Biologics during the 1st quarter valued at about $239,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of AbCellera Biologics during the 2nd quarter valued at about $117,000. Finally, Nan Fung Group Holdings Ltd increased its stake in shares of AbCellera Biologics by 307.1% during the 1st quarter. Nan Fung Group Holdings Ltd now owns 50,971 shares of the company’s stock valued at $231,000 after acquiring an additional 38,450 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 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.