AbCellera price target lowered to $8 from $10 at Stifel

Stifel analyst Stephen Willey lowered the firm’s price target on AbCellera (ABCL) to $8 from $10 and keeps a Buy rating on the shares. The firm views the unveiling of NK3R as the target of ABCL635 ahead of the Phase 1 trial initiation as “an interesting development which positions ABCL635 as a more-selective/likely-safer and more-convenient treatment option,” the analyst tells investors following management’s earnings announcement and corporate update.