AbCellera Biologics (NASDAQ:ABCL) Trading Down 4.1% - Time to Sell?

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) shares were down 4.1% during trading on Tuesday . The company traded as low as $2.49 and last traded at $2.49. Approximately 114,529 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 2,386,285 shares. The stock had previously closed at $2.59.

Analyst Ratings Changes

Several research firms have recently commented on ABCL. Stifel Nicolaus decreased their price objective on AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, February 28th. KeyCorp lowered their price target 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. Finally, Benchmark reiterated a "hold" rating on shares of AbCellera Biologics in a research note on Monday, March 3rd.

AbCellera Biologics Stock Down 2.1 %

The stock has a market capitalization of $688.35 million, a PE ratio of -3.79 and a beta of 0.45. The stock's 50 day moving average price is $2.86 and its 200-day moving average price is $2.82.

Institutional Trading of AbCellera Biologics

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

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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.