AbCellera Biologics (NASDAQ:ABCL) Trading Up 7%

AbCellera Biologics Inc. (NASDAQ:ABCL) traded up 7% during mid-day trading on Friday . The stock traded as high as $4.20 and last traded at $4.12. 754,245 shares traded hands during trading, a decline of 45% from the average session volume of 1,366,338 shares. The stock had previously closed at $3.85.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ABCL. Stifel Nicolaus lowered their price objective on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $15.86.

AbCellera Biologics Stock Up 4.7 %

The firm has a fifty day moving average of $4.46 and a 200-day moving average of $4.79. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -8.00 and a beta of 0.42.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 12.36% and a negative net margin of 384.99%. The firm had revenue of $9.18 million for the quarter, compared to analyst estimates of $9.58 million. As a group, research analysts forecast that AbCellera Biologics Inc. will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABCL. Pacifica Partners Inc. increased its stake in shares of AbCellera Biologics by 82.9% during the 4th quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock worth $28,000 after purchasing an additional 2,185 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of AbCellera Biologics in the third quarter worth $30,000. China Universal Asset Management Co. Ltd. lifted its position in shares of AbCellera Biologics by 96.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,423 shares of the company’s stock valued at $34,000 after acquiring an additional 3,638 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of AbCellera Biologics in the third quarter valued at $48,000. Finally, Signaturefd LLC boosted its stake in shares of AbCellera Biologics by 306.3% during the fourth quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock valued at $61,000 after acquiring an additional 7,988 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.