Abcellera Biologics is trading at $4.99 (-5.05%) today, sliding alongside a broader biotechnology selloff despite a lack of fresh company-specific announcements.
- The decline tracks a downturn in the SPDR S&P Biotech ETF (XBI), which fell 2.16% as risk appetite for growth stocks remains weak.
- Broader market pressure from Nasdaq weakness and a rotation into value sectors contributed to the downward move.