AbCellera Biologics (NASDAQ:ABCL) Hits New 52-Week Low - Should You Sell?

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) shares reached a new 52-week low on Tuesday . The stock traded as low as $2.11 and last traded at $2.12, with a volume of 2602457 shares trading hands. The stock had previously closed at $2.23.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. KeyCorp cut their price objective on AbCellera Biologics from $5.00 to $4.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus decreased their price objective on shares of 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, Benchmark restated a "hold" rating on shares of AbCellera Biologics in a report on Monday, March 3rd.

AbCellera Biologics Price Performance

The company's fifty day simple moving average is $2.74 and its 200-day simple moving average is $2.80. The firm has a market capitalization of $622.79 million, a PE ratio of -3.43 and a beta of 0.50.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ABCL. Capital World Investors acquired a new stake in AbCellera Biologics in the 4th quarter worth about $23,245,000. Two Sigma Investments LP raised its position in AbCellera Biologics by 28.6% in the fourth quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company's stock valued at $9,544,000 after purchasing an additional 723,676 shares during the period. Two Sigma Advisers LP lifted its position in AbCellera Biologics by 19.8% in the fourth quarter. Two Sigma Advisers LP now owns 2,608,400 shares of the company's stock valued at $7,643,000 after buying an additional 430,800 shares during the last quarter. Tang Capital Management LLC increased its position in shares of AbCellera Biologics by 12.3% during the fourth quarter. Tang Capital Management LLC now owns 2,582,816 shares of the company's stock valued at $7,568,000 after acquiring an additional 282,816 shares during the last quarter. Finally, Guardian Partners Inc. purchased a new position in shares of AbCellera Biologics during the 4th quarter worth approximately $5,413,000. 61.42% of the stock is owned by institutional investors and hedge funds.

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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.