AbCellera Biologics (NASDAQ:ABCL) Trading Up 8.3% – Still a Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL) shares rose 8.3% on Friday . The stock traded as high as $3.16 and last traded at $3.1850. Approximately 897,942 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 4,787,594 shares. The stock had previously closed at $2.94.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ABCL shares. Leerink Partners downgraded AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, AbCellera Biologics presently has a consensus rating of “Hold” and an average target price of $7.75.

AbCellera Biologics Price Performance

The business has a 50-day simple moving average of $3.72 and a two-hundred day simple moving average of $4.30. The stock has a market cap of $932.41 million, a price-to-earnings ratio of -5.46 and a beta of 0.81.

Hedge Funds Weigh In On AbCellera Biologics

Several large investors have recently modified their holdings of ABCL. Hollencrest Capital Management acquired a new position in AbCellera Biologics in the 3rd quarter valued at about $25,000. AssuredPartners Investment Advisors LLC acquired a new position in AbCellera Biologics in the 4th quarter valued at $34,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AbCellera Biologics during the second quarter worth $35,000. Allworth Financial LP boosted its position in shares of AbCellera Biologics by 857.0% in the fourth quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock valued at $39,000 after acquiring an additional 10,096 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 acquiring an additional 2,993 shares in the last quarter. 61.42% of the stock is owned by 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.