Is This AI Drug Discovery Stock a Bargain?
AbCellera stock was a pandemic darling, with their first day of trading seeing a valuation of nearly $13 billion. The AI drug discovery stock – which we happen to like – has now tumbled over 90%, leaving investors wondering whether it’s time to buy. We see a lot of appeal in a platform that can reduce the time it takes to bring drugs to market, especially one that was tested and proven in the times of the ‘Rona. But why do they now only have six noteworthy molecules in the clinic? And why are four of them from a private company called NovaRock? There’s a lot of uncertainty surrounding ABCL stock these days, and we need to see some more success before we decide to go long.
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