AbCellera Biologics (NASDAQ:ABCL) Shares Gap Up on Analyst Upgrade

AbCellera Biologics Inc. (NASDAQ:ABCL) shares gapped up before the market opened on Monday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $4.37, but opened at $4.63. AbCellera Biologics shares last traded at $4.4650, with a volume of 1,148,204 shares changing hands.

A number of other analysts have also recently commented on the company. Leerink Partnrs cut AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Leerink Partners reissued a “market perform” rating and set a $4.00 target price on shares of AbCellera Biologics in a report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, AbCellera Biologics has an average rating of “Hold” and an average price target of $7.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABCL. Hollencrest Capital Management acquired a new position in shares of AbCellera Biologics in the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in AbCellera Biologics in the 2nd quarter worth about $35,000. J2 Capital Management Inc acquired a new position in AbCellera Biologics in the 2nd quarter worth about $45,000. Lantern Wealth Advisors LLC purchased a new position in AbCellera Biologics during the second quarter worth approximately $51,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in AbCellera Biologics in the third quarter valued at approximately $52,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -7.73 and a beta of 0.73. The firm has a fifty day simple moving average of $3.76 and a 200 day simple moving average of $4.37.

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

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.