AbCellera Biologics (NASDAQ:ABCL) Given New $10.00 Price Target at Stifel Nicolaus

AbCellera Biologics (NASDAQ:ABCL) had its target price decreased by Stifel Nicolaus from $12.00 to $10.00 in a research note published on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. KeyCorp reduced their price target on shares of AbCellera Biologics from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a research report on Tuesday, November 5th.

AbCellera Biologics Stock Down 11.3 %

Shares of NASDAQ:ABCL opened at $2.59 on Friday. The company has a market cap of $765.00 million, a P/E ratio of -4.25 and a beta of 0.42. AbCellera Biologics has a 52 week low of $2.31 and a 52 week high of $5.26. The company has a 50-day moving average price of $3.10 and a 200 day moving average price of $2.84.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI acquired a new position in shares of AbCellera Biologics during the 3rd quarter worth approximately $26,000. DKM Wealth Management Inc. purchased a new stake in AbCellera Biologics in the 4th quarter worth approximately $29,000. State of New Jersey Common Pension Fund D purchased a new stake in AbCellera Biologics in the 4th quarter worth approximately $36,000. Balyasny Asset Management L.P. purchased a new stake in AbCellera Biologics in the 4th quarter worth approximately $40,000. Finally, Mariner LLC purchased a new stake in AbCellera Biologics in the 4th quarter worth approximately $42,000. 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.