AbCellera Biologics (NASDAQ:ABCL) Given "Hold" Rating at Benchmark

Benchmark reaffirmed their hold rating on shares of AbCellera Biologics (NASDAQ:ABCL - Free Report) in a report published on Tuesday, Benzinga reports.

ABCL has been the topic of a number of other research reports. KeyCorp restated an "overweight" rating and issued a $5.00 price objective (down previously from $7.00) on shares of AbCellera Biologics in a report on Thursday, July 11th. Stifel Nicolaus restated a "buy" rating and set a $12.00 price target (down previously from $14.00) on shares of AbCellera Biologics in a research note on Tuesday.

AbCellera Biologics Trading Down 5.9 %

ABCL stock traded down $0.17 during midday trading on Tuesday, reaching $2.72. The company had a trading volume of 3,835,909 shares, compared to its average volume of 1,631,801. The company has a 50 day moving average of $2.62 and a two-hundred day moving average of $3.06. The company has a market capitalization of $801.50 million, a P/E ratio of -5.04 and a beta of 0.35. AbCellera Biologics has a 1 year low of $2.34 and a 1 year high of $6.05.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 13.40% and a negative net margin of 463.77%. The firm had revenue of $6.51 million for the quarter, compared to analysts' expectations of $8.95 million. During the same quarter in the prior year, the business posted ($0.10) earnings per share. On average, sell-side analysts anticipate that AbCellera Biologics will post -0.55 earnings per share for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI acquired a new position in AbCellera Biologics during the third quarter valued at approximately $26,000. NBC Securities Inc. grew its stake in AbCellera Biologics by 56.0% in the 3rd quarter. NBC Securities Inc. now owns 11,420 shares of the company's stock valued at $29,000 after buying an additional 4,100 shares during the last quarter. Evergreen Capital Management LLC bought a new position in AbCellera Biologics in the 2nd quarter worth $32,000. Ballentine Partners LLC acquired a new position in AbCellera Biologics during the 3rd quarter worth $54,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in AbCellera Biologics by 104.8% during the second quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company's stock valued at $64,000 after acquiring an additional 11,000 shares during the period. 61.42% of the stock is currently owned by institutional investors and hedge funds.

About AbCellera Biologics

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.