AbCellera Biologics (NASDAQ:ABCL) Shares Down 3.4% – Should You Sell?

AbCellera Biologics Inc. (NASDAQ:ABCL) fell 3.4% on Monday . The company traded as low as $2.46 and last traded at $2.44. 261,978 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,320,570 shares. The stock had previously closed at $2.52.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABCL. Benchmark reaffirmed a “hold” rating on shares of AbCellera Biologics in a research note on Monday, March 3rd. Stifel Nicolaus dropped their price objective on AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, KeyCorp dropped their price target on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th.

AbCellera Biologics Stock Down 7.5 %

The business has a 50 day moving average of $2.94 and a 200 day moving average of $2.82. The company has a market capitalization of $700.27 million, a P/E ratio of -3.85 and a beta of 0.45.

Hedge Funds Weigh In On AbCellera Biologics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Walleye Capital LLC bought a new stake in shares of AbCellera Biologics in the 3rd quarter valued at approximately $668,000. JPMorgan Chase & Co. lifted its stake in shares of AbCellera Biologics by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 355,747 shares of the company’s stock valued at $925,000 after purchasing an additional 21,483 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of AbCellera Biologics by 991.3% in the 3rd quarter. GSA Capital Partners LLP now owns 241,866 shares of the company’s stock valued at $629,000 after purchasing an additional 219,703 shares during the last quarter. Moloney Securities Asset Management LLC bought a new stake in shares of AbCellera Biologics in the 4th quarter valued at approximately $265,000. Finally, State Street Corp lifted its stake in shares of AbCellera Biologics by 1.5% in the 3rd quarter. State Street Corp now owns 323,229 shares of the company’s stock valued at $840,000 after purchasing an additional 4,679 shares during the last quarter. 61.42% of the stock is owned by 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.