AbCellera Biologics Inc. (NASDAQ:ABCL) Receives Average Rating of “Moderate Buy” from Analysts

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) have been given an average recommendation of “Moderate Buy” by the seven research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.1667.

A number of equities analysts have weighed in on ABCL shares. Cantor Fitzgerald initiated coverage on shares of AbCellera Biologics in a research note on Tuesday. They set an “overweight” rating and a $7.00 price target on the stock. JonesTrading assumed coverage on shares of AbCellera Biologics in a research note on Friday, April 10th. They set a “buy” rating and a $11.00 price objective for the company. Wall Street Zen upgraded AbCellera Biologics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Monday, April 20th.

Hedge Funds Weigh In On AbCellera Biologics

A number of large investors have recently modified their holdings of ABCL. Creative Planning lifted its stake in shares of AbCellera Biologics by 6.9% in the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock valued at $141,000 after purchasing an additional 2,656 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in AbCellera Biologics by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,546 shares of the company’s stock valued at $50,000 after buying an additional 2,993 shares during the period. Advisory Services Network LLC lifted its position in AbCellera Biologics by 12.9% during the fourth quarter. Advisory Services Network LLC now owns 29,664 shares of the company’s stock valued at $101,000 after buying an additional 3,386 shares in the last quarter. Stratos Wealth Advisors LLC lifted its position in AbCellera Biologics by 21.1% during the fourth quarter. Stratos Wealth Advisors LLC now owns 23,000 shares of the company’s stock valued at $79,000 after buying an additional 4,000 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in AbCellera Biologics by 17.0% during the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock worth $96,000 after buying an additional 4,070 shares during the period. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

AbCellera Biologics Price Performance

ABCL opened at $5.24 on Monday. AbCellera Biologics has a 12 month low of $1.94 and a 12 month high of $6.51. The business has a 50-day moving average of $3.70 and a two-hundred day moving average of $3.84. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -10.69 and a beta of 1.02.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.15. AbCellera Biologics had a negative net margin of 198.37% and a negative return on equity of 15.05%. The business had revenue of $44.85 million for the quarter, compared to analyst estimates of $6.31 million. Equities research analysts anticipate that AbCellera Biologics will post -0.9 earnings per share for the current year.

About AbCellera Biologics

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.