AbCellera Biologics (NASDAQ:ABCL) Earns Hold Rating from Benchmark

AbCellera Biologics (NASDAQ:ABCL)‘s stock had its “hold” rating reaffirmed by analysts at Benchmark in a research note issued to investors on Monday,Benzinga reports.

A number of other research firms have also recently issued reports on ABCL. Stifel Nicolaus cut their price objective 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. KeyCorp lowered their target price on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th.

AbCellera Biologics Stock Down 0.8 %

Shares of AbCellera Biologics stock opened at $2.34 on Monday. AbCellera Biologics has a twelve month low of $2.20 and a twelve month high of $5.13. The stock has a market cap of $691.16 million, a price-to-earnings ratio of -3.84 and a beta of 0.42. The company’s fifty day moving average is $3.07 and its 200 day moving average is $2.84.

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors and hedge funds have recently made changes to their positions in ABCL. Arcadia Investment Management Corp MI acquired a new stake in shares of AbCellera Biologics in the 3rd quarter worth about $26,000. DKM Wealth Management Inc. purchased a new stake in AbCellera Biologics in the 4th quarter valued at about $29,000. State of New Jersey Common Pension Fund D purchased a new stake in AbCellera Biologics in the 4th quarter valued at about $36,000. Balyasny Asset Management L.P. purchased a new stake in AbCellera Biologics in the 4th quarter valued at about $40,000. Finally, Mariner LLC purchased a new stake in AbCellera Biologics in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

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.