AbCellera Biologics (NASDAQ:ABCL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AbCellera Biologics (NASDAQ:ABCL) from a sell rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Friday, July 17th. Truist Financial boosted their price target on shares of AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Stifel Nicolaus increased their price target on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Benchmark upgraded 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. Finally, Cantor Fitzgerald lifted their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, AbCellera Biologics presently has a consensus rating of “Moderate Buy” and an average target price of $12.83.

AbCellera Biologics Price Performance

AbCellera Biologics stock opened at $11.43 on Friday. AbCellera Biologics has a 52 week low of $2.74 and a 52 week high of $12.58. The business has a 50-day simple moving average of $8.50 and a 200 day simple moving average of $5.83. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -21.17 and a beta of 1.32.

AbCellera Biologics (NASDAQ:ABCL) last released 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). The business had revenue of $4.05 million during the quarter, compared to analysts’ expectations of $7.85 million. AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. On average, research analysts anticipate that AbCellera Biologics will post -0.68 earnings per share for the current year.

Institutional Trading of AbCellera Biologics

Several institutional investors have recently added to or reduced their stakes in ABCL. BlackRock Inc. purchased a new position in AbCellera Biologics in the 2nd quarter worth approximately $29,872,000. SEB Asset Management AB purchased a new stake in shares of AbCellera Biologics during the first quarter valued at approximately $1,188,000. Hsbc Holdings PLC purchased a new stake in shares of AbCellera Biologics during the second quarter valued at approximately $929,000. Citizens Financial Group Inc. RI bought a new position in shares of AbCellera Biologics in the second quarter worth approximately $1,663,000. Finally, Cookson Peirce & Co. Inc. bought a new position in shares of AbCellera Biologics in the second quarter worth approximately $785,000. 61.42% of the stock is currently owned by hedge funds and other 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.