AbCellera Biologics (NASDAQ:ABCL) Hits New 1-Year Low – Time to Sell?

AbCellera Biologics Inc. (NASDAQ:ABCL) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $1.89 and last traded at $1.90, with a volume of 411734 shares traded. The stock had previously closed at $2.09.

Analysts Set New Price Targets

ABCL has been the topic of a number of research reports. Stifel Nicolaus reduced their target price on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Benchmark restated a “hold” rating on shares of AbCellera Biologics in a research report on Monday, March 3rd. Finally, KeyCorp decreased their price objective on AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th.

AbCellera Biologics Trading Down 5.0 %

The stock has a 50 day moving average price of $2.74 and a two-hundred day moving average price of $2.80. The company has a market cap of $591.51 million, a price-to-earnings ratio of -3.25 and a beta of 0.50.

Institutional Investors Weigh In On AbCellera Biologics

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

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.