🔴 Abcellera Biologics is trading 4.06% down today as 10-year Treasury yield hits a 19-year high

Abcellera Biologics is trading 4.06% down at $11.81, with macro-driven inflation and higher-for-longer rate concerns pressuring biotech valuations.

• The 10-year Treasury yield reached 5.14%, a 19-year high, as strong business activity and oil above $100 heightened inflation and higher-for-longer rate concerns.
• The Nasdaq fell 0.81%, while biotechnology ETF XBI declined 2.04%.
• No fresh company-specific announcement was identified; the latest update concerns the planned September 16 ABCL635 Phase 2 presentation.