Analysts Set AbCellera Biologics Inc. (NASDAQ:ABCL) Target Price at $15.86

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) have been assigned a consensus rating of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $16.00.

A number of equities analysts have issued reports on the stock. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Thursday, February 22nd. Stifel Nicolaus lowered their target price on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st.

Institutional Trading of AbCellera Biologics

Several hedge funds and other institutional investors have recently bought and sold shares of ABCL. Pacifica Partners Inc. boosted its holdings in shares of AbCellera Biologics by 82.9% during the fourth quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock worth $28,000 after purchasing an additional 2,185 shares during the last quarter. Pathstone Family Office LLC grew its holdings in AbCellera Biologics by 16.5% in the 3rd quarter. Pathstone Family Office LLC now owns 17,390 shares of the company’s stock valued at $80,000 after buying an additional 2,466 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of AbCellera Biologics by 3.7% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 83,867 shares of the company’s stock valued at $386,000 after acquiring an additional 3,000 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of AbCellera Biologics by 96.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,423 shares of the company’s stock worth $34,000 after acquiring an additional 3,638 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of AbCellera Biologics by 13.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,855 shares of the company’s stock worth $221,000 after acquiring an additional 4,641 shares during the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

AbCellera Biologics Price Performance

ABCL opened at $4.03 on Wednesday. AbCellera Biologics has a 1-year low of $3.62 and a 1-year high of $8.05. The stock has a market cap of $1.18 billion, a P/E ratio of -7.75 and a beta of 0.42. The stock’s 50 day simple moving average is $4.44 and its 200 day simple moving average is $4.79.

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

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.