AbCellera Biologics (NASDAQ:ABCL) Hits New 52-Week High – Should You Buy?

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) reached a new 52-week high on Thursday . The company traded as high as $6.86 and last traded at $6.6750, with a volume of 6153303 shares. The stock had previously closed at $6.03.

Wall Street Analyst Weigh In

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

AbCellera Biologics Price Performance

The firm has a 50-day moving average price of $4.94 and a 200 day moving average price of $4.06. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -13.91 and a beta of 1.18.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.08. The company had revenue of $8.31 million for the quarter, compared to analyst estimates of $5.41 million. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.During the same quarter last year, the company earned ($0.15) earnings per share. On average, equities analysts anticipate that AbCellera Biologics Inc. will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of AbCellera Biologics in the fourth quarter valued at about $26,938,000. Goldman Sachs Group Inc. raised its stake in AbCellera Biologics by 1,636.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company’s stock worth $14,858,000 after purchasing an additional 4,094,268 shares in the last quarter. Bank of America Corp DE raised its stake in AbCellera Biologics by 977.8% in the 3rd quarter. Bank of America Corp DE now owns 2,418,304 shares of the company’s stock worth $12,164,000 after purchasing an additional 2,193,939 shares in the last quarter. Tudor Investment Corp ET AL boosted its holdings in AbCellera Biologics by 146.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company’s stock valued at $6,142,000 after purchasing an additional 1,065,888 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in AbCellera Biologics by 25.9% in the 3rd quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company’s stock valued at $26,031,000 after purchasing an additional 1,064,290 shares during the period. 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.