AbCellera Biologics (NASDAQ:ABCL) Shares Gap Up – What’s Next?

AbCellera Biologics Inc. (NASDAQ:ABCL) gapped up prior to trading on Tuesday . The stock had previously closed at $4.59, but opened at $5.05. AbCellera Biologics shares last traded at $4.8050, with a volume of 5,130,878 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on ABCL. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Monday, April 20th. JonesTrading began coverage on AbCellera Biologics in a research report on Friday, April 10th. They issued a “buy” rating and a $11.00 target price on the stock. Cantor Fitzgerald began coverage on AbCellera Biologics in a research report on Tuesday. They issued an “overweight” rating and a $7.00 target price on the stock. Finally, Wall Street Zen upgraded AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, AbCellera Biologics presently has an average rating of “Moderate Buy” and an average price target of $8.17.

AbCellera Biologics Trading Up 1.4%

The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -9.50 and a beta of 1.02. The firm has a 50-day moving average price of $3.60 and a 200-day moving average price of $3.86.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.15. AbCellera Biologics had a negative return on equity of 15.05% and a negative net margin of 198.37%.The company had revenue of $44.85 million for the quarter, compared to analysts’ expectations of $6.31 million. Equities research analysts predict that AbCellera Biologics Inc. will post -0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Several large investors have recently made changes to their positions in the business. Baillie Gifford & Co. boosted its position in shares of AbCellera Biologics by 0.6% during the 3rd quarter. Baillie Gifford & Co. now owns 10,422,966 shares of the company’s stock valued at $52,428,000 after purchasing an additional 62,962 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of AbCellera Biologics during the 4th quarter valued at about $26,938,000. Two Sigma Investments LP boosted its position in shares of AbCellera Biologics by 25.9% during 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 in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of AbCellera Biologics by 1,636.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company’s stock valued at $14,858,000 after purchasing an additional 4,094,268 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of AbCellera Biologics by 977.8% during the 3rd quarter. Bank of America Corp DE now owns 2,418,304 shares of the company’s stock valued at $12,164,000 after purchasing an additional 2,193,939 shares in the last quarter. Institutional investors own 61.42% of the company’s stock.

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.