AbCellera Biologics (NASDAQ:ABCL) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of AbCellera Biologics (NASDAQ:ABCL) from a sell rating to a hold rating in a research note published on Saturday.

ABCL has been the topic of several other reports. Leerink Partnrs lowered AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Wednesday, October 8th. Finally, Leerink Partners reiterated a “market perform” rating and set a $4.00 price target on shares of AbCellera Biologics in a research report on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AbCellera Biologics currently has a consensus rating of “Hold” and a consensus target price of $7.75.

AbCellera Biologics Trading Down 3.8%

ABCL stock opened at $3.58 on Friday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -6.28 and a beta of 0.73. AbCellera Biologics has a 12-month low of $1.89 and a 12-month high of $6.51. The firm has a 50 day moving average of $4.14 and a 200-day moving average of $4.34.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The company had revenue of $6.51 million for the quarter, compared to analyst estimates of $6.33 million. AbCellera Biologics had a negative net margin of 493.42% and a negative return on equity of 17.21%. Sell-side analysts forecast that AbCellera Biologics will post -0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management bought a new position in AbCellera Biologics in the 3rd quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of AbCellera Biologics in the 2nd quarter valued at $35,000. OneDigital Investment Advisors LLC bought a new stake in shares of AbCellera Biologics in the third quarter worth about $52,000. Insigneo Advisory Services LLC bought a new stake in AbCellera Biologics during the 3rd quarter worth approximately $52,000. Finally, Voleon Capital Management LP acquired a new stake in shares of AbCellera Biologics in the 3rd quarter valued at about $56,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.