AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.89 and last traded at $1.90, with a volume of 411734 shares changing hands. The stock had previously closed at $2.09.
Analyst Ratings Changes
A number of analysts have commented on the company. Benchmark reiterated a "hold" rating on shares of AbCellera Biologics in a research report on Monday, March 3rd. KeyCorp lowered their price target on shares of AbCellera Biologics from $5.00 to $4.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Finally, Stifel Nicolaus reduced their price objective on shares of AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating for the company in a report on Friday, February 28th.
Check Out Our Latest Research Report on ABCL
AbCellera Biologics Stock Performance
The company has a 50-day moving average of $2.58 and a 200 day moving average of $2.77. The firm has a market cap of $715.17 million, a P/E ratio of -3.93 and a beta of 0.50.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors bought a new position in AbCellera Biologics during the 4th quarter valued at about $23,245,000. Guardian Partners Inc. acquired a new stake in shares of AbCellera Biologics in the fourth quarter valued at $5,413,000. Norges Bank acquired a new position in AbCellera Biologics during the 4th quarter worth about $3,764,000. Millennium Management LLC grew its holdings in AbCellera Biologics by 96.7% during the 4th quarter. Millennium Management LLC now owns 1,482,715 shares of the company's stock worth $4,344,000 after acquiring an additional 728,828 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in AbCellera Biologics by 28.6% in the 4th quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company's stock valued at $9,544,000 after acquiring an additional 723,676 shares in the last quarter. 61.42% of the stock is owned by institutional investors.
About AbCellera Biologics
(
Get Free Report)
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.
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