AbCellera Biologics Inc. (NASDAQ:ABCL) Receives $8.00 Average Price Target from Analysts

AbCellera Biologics Inc. (NASDAQ:ABCL) has received an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $8.00.

ABCL has been the topic of a number of research analyst reports. Cantor Fitzgerald started coverage on shares of AbCellera Biologics in a research note on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target on the stock. Wall Street Zen cut shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. JonesTrading initiated coverage on shares of AbCellera Biologics in a report on Friday, April 10th. They set a “buy” rating and a $11.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. Finally, Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Tuesday, July 7th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB lifted its stake in shares of AbCellera Biologics by 27.8% in the second quarter. Handelsbanken Fonder AB now owns 147,900 shares of the company’s stock worth $1,161,000 after buying an additional 32,200 shares in the last quarter. Bank of America Corp DE grew its stake in AbCellera Biologics by 13.9% during the 1st quarter. Bank of America Corp DE now owns 2,999,936 shares of the company’s stock valued at $10,470,000 after acquiring an additional 367,064 shares in the last quarter. Royal Bank of Canada grew its stake in AbCellera Biologics by 5.6% during the 1st quarter. Royal Bank of Canada now owns 394,753 shares of the company’s stock valued at $1,378,000 after acquiring an additional 20,897 shares in the last quarter. SEB Asset Management AB purchased a new stake in AbCellera Biologics during the 1st quarter valued at about $1,188,000. Finally, Hsbc Holdings PLC raised its holdings in AbCellera Biologics by 22.6% in the 1st quarter. Hsbc Holdings PLC now owns 143,472 shares of the company’s stock valued at $499,000 after acquiring an additional 26,441 shares during the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

AbCellera Biologics Trading Down 6.3%

Shares of ABCL stock opened at $5.31 on Friday. The company has a market capitalization of $1.62 billion, a P/E ratio of -11.06 and a beta of 1.14. The business’s 50 day moving average is $6.07 and its two-hundred day moving average is $4.57. AbCellera Biologics has a 12-month low of $2.74 and a 12-month high of $8.44.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.08. The business had revenue of $8.31 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the business earned ($0.15) earnings per share. On average, research analysts predict that AbCellera Biologics will post -0.67 earnings per share for the current fiscal 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.