AbCellera Biologics (NASDAQ:ABCL) Trading Up 11% – Should You Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL) shares were up 11% during mid-day trading on Wednesday . The stock traded as high as $5.55 and last traded at $5.6490. Approximately 1,786,510 shares were traded during trading, a decline of 67% from the average daily volume of 5,381,780 shares. The stock had previously closed at $5.09.

Analyst Ratings Changes

Several analysts have recently issued reports on ABCL shares. JonesTrading started coverage on shares of AbCellera Biologics in a research report on Friday, April 10th. They set a “buy” rating and a $11.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Monday, April 20th. Cantor Fitzgerald started coverage on shares of AbCellera Biologics in a research report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price target on the stock. Finally, Wall Street Zen cut shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AbCellera Biologics currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.80.

AbCellera Biologics Stock Up 10.9%

The company’s fifty day moving average is $4.68 and its two-hundred day moving average is $3.97. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -11.76 and a beta of 1.18.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.08. The company had revenue of $8.32 million for the quarter, compared to analyst estimates of $5.41 million. AbCellera Biologics had a negative net margin of 181.75% and a negative return on equity of 14.86%. During the same period in the prior year, the firm posted ($0.15) earnings per share. Sell-side analysts predict that AbCellera Biologics Inc. will post -0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Hedge funds and other institutional investors have recently bought and sold shares of the company. DNB Asset Management AS purchased a new position in AbCellera Biologics in the 3rd quarter valued at $3,301,000. Tudor Investment Corp ET AL purchased a new position in AbCellera Biologics in the 3rd quarter valued at $3,673,000. Rothschild Investment LLC acquired a new stake in AbCellera Biologics in the third quarter valued at $80,000. SEB Asset Management AB acquired a new stake in AbCellera Biologics in the first quarter valued at $1,188,000. Finally, Janney Montgomery Scott LLC acquired a new stake in AbCellera Biologics in the first quarter valued at $46,000. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

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.