AbCellera Biologics Inc. (NASDAQ:ABCL) Given Consensus Rating of “Moderate Buy” by Analysts

AbCellera Biologics Inc. (NASDAQ:ABCL) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.00.

A number of brokerages have recently weighed in on ABCL. JonesTrading initiated coverage on AbCellera Biologics in a report on Friday, April 10th. They set a “buy” rating and a $11.00 price target on the stock. Cantor Fitzgerald initiated coverage on AbCellera Biologics in a research note on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price objective for the company. Wall Street Zen lowered AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Monday, April 20th.

AbCellera Biologics Stock Performance

NASDAQ ABCL opened at $6.47 on Friday. AbCellera Biologics has a twelve month low of $2.74 and a twelve month high of $8.44. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -13.48 and a beta of 1.14. The firm’s 50 day moving average price is $5.97 and its two-hundred day moving average price is $4.49.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.08. The company had revenue of $8.31 million for the quarter, compared to the consensus estimate of $5.41 million. AbCellera Biologics had a negative net margin of 181.75% and a negative return on equity of 14.86%. During the same period in the previous year, the business earned ($0.15) EPS. On average, research analysts forecast that AbCellera Biologics will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors have recently modified their holdings of ABCL. Tudor Investment Corp ET AL purchased a new position in AbCellera Biologics in the third quarter valued at about $3,673,000. Virtu Financial LLC purchased a new stake in shares of AbCellera Biologics during the 4th quarter worth about $619,000. SG Americas Securities LLC purchased a new stake in shares of AbCellera Biologics during the 1st quarter worth about $70,000. Green Alpha Advisors LLC lifted its holdings in shares of AbCellera Biologics by 21.2% during the 4th quarter. Green Alpha Advisors LLC now owns 27,592 shares of the company’s stock valued at $94,000 after buying an additional 4,817 shares during the last quarter. Finally, Tradition Wealth Management LLC lifted its holdings in shares of AbCellera Biologics by 30.4% during the 4th quarter. Tradition Wealth Management LLC now owns 47,110 shares of the company’s stock valued at $161,000 after buying an additional 10,972 shares during the last quarter. Institutional investors and hedge funds 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.