AbCellera Biologics Inc. (NASDAQ:ABCL) Receives $15.86 Average Target Price from Analysts

AbCellera Biologics Inc. (NASDAQ:ABCL) has been assigned an average recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $16.00.

ABCL has been the subject of several research reports. Stifel Nicolaus reduced their target price on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Thursday, February 22nd.

AbCellera Biologics Price Performance

NASDAQ ABCL opened at $4.04 on Wednesday. The company’s fifty day moving average is $4.43 and its two-hundred day moving average is $4.79. AbCellera Biologics has a 52-week low of $3.62 and a 52-week high of $8.05. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.77 and a beta of 0.42.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Tuesday, February 20th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $9.18 million for the quarter, compared to analyst estimates of $9.58 million. AbCellera Biologics had a negative return on equity of 12.36% and a negative net margin of 384.99%. As a group, sell-side analysts expect that AbCellera Biologics will post -0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ABCL. Seelaus Asset Management LLC bought a new stake in shares of AbCellera Biologics in the 1st quarter worth about $68,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in AbCellera Biologics in the first quarter valued at about $454,000. China Universal Asset Management Co. Ltd. grew its stake in AbCellera Biologics by 67.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 56,306 shares of the company’s stock worth $255,000 after buying an additional 22,740 shares during the last quarter. PFG Investments LLC acquired a new stake in shares of AbCellera Biologics during the first quarter worth approximately $75,000. Finally, TrueMark Investments LLC raised its stake in shares of AbCellera Biologics by 13.5% in the first quarter. TrueMark Investments LLC now owns 109,957 shares of the company’s stock valued at $498,000 after acquiring an additional 13,104 shares during the last quarter. 61.42% of the stock is owned by institutional investors.

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.