AbCellera Biologics (NASDAQ:ABCL - Get Free Report) had its price target lowered by analysts at Stifel Nicolaus from $12.00 to $10.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 327.35% from the stock's current price.
Other research analysts have also issued reports about the stock. KeyCorp decreased their price target on shares of AbCellera Biologics from $5.00 to $4.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Benchmark reaffirmed a "hold" rating on shares of AbCellera Biologics in a report on Tuesday, November 5th.
Check Out Our Latest Report on ABCL
AbCellera Biologics Price Performance
AbCellera Biologics stock traded down $0.02 during midday trading on Friday, hitting $2.34. 5,044,340 shares of the stock were exchanged, compared to its average volume of 2,227,215. AbCellera Biologics has a 1 year low of $2.21 and a 1 year high of $5.13. The firm has a market cap of $691.16 million, a P/E ratio of -3.84 and a beta of 0.42. The company has a 50 day moving average price of $3.09 and a two-hundred day moving average price of $2.84.
Institutional Investors Weigh In On AbCellera Biologics
Several institutional investors and hedge funds have recently added to or reduced their stakes in ABCL. Walleye Capital LLC bought a new position in AbCellera Biologics in the 3rd quarter worth approximately $668,000. JPMorgan Chase & Co. increased its position in AbCellera Biologics by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 355,747 shares of the company's stock worth $925,000 after acquiring an additional 21,483 shares during the period. GSA Capital Partners LLP raised its stake in AbCellera Biologics by 991.3% during 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 AbCellera Biologics in the 4th quarter valued at $265,000. Finally, State Street Corp boosted its holdings in 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 period. 61.42% of the stock is currently owned by institutional investors and hedge funds.
About AbCellera Biologics
(
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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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