AbCellera Biologics (NASDAQ:ABCL) Sets New 1-Year High – Should You Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price hit a new 52-week high during trading on Monday. The stock traded as high as $13.32 and last traded at $13.1750, with a volume of 2228977 shares. The stock had previously closed at $12.70.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ABCL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Stifel Nicolaus lifted their price target on shares of AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Tuesday, July 7th. Cantor Fitzgerald lifted their price target on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group assumed coverage on shares of AbCellera Biologics in a research report on Thursday. They set a “neutral” rating and a $13.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.86.

AbCellera Biologics Stock Performance

The firm has a market cap of $4.32 billion, a P/E ratio of -26.10 and a beta of 1.32. The firm’s fifty day simple moving average is $9.80 and its 200 day simple moving average is $6.67.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%.The business had revenue of $4.05 million during the quarter, compared to the consensus estimate of $7.85 million. On average, equities research analysts predict that AbCellera Biologics Inc. will post -0.68 earnings per share for the current year.

Institutional Trading of AbCellera Biologics

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in AbCellera Biologics in the second quarter valued at about $29,872,000. Hsbc Holdings PLC acquired a new position in shares of AbCellera Biologics during the 2nd quarter worth approximately $929,000. SEB Asset Management AB acquired a new stake in shares of AbCellera Biologics in the 1st quarter worth $1,188,000. Bank of America Corp DE acquired a new position in AbCellera Biologics in the second quarter valued at approximately $48,211,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of AbCellera Biologics during the second quarter valued at about $1,663,000. 61.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Company Profile

AbCellera Biologics Inc is a biotechnology company that develops antibody-based medicines in partnership with pharmaceutical and biotechnology companies. Its technology platform combines artificial intelligence, machine learning, high-throughput screening, single-cell analysis and other laboratory techniques to identify and evaluate antibody candidates.

The company provides integrated antibody discovery and development services, helping partners move from biological targets and immune-cell samples to optimized therapeutic antibody candidates.