AbCellera Biologics (NASDAQ:ABCL) Sets New 1-Year High – Still a Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $12.50 and last traded at $12.50, with a volume of 10658068 shares. The stock had previously closed at $10.61.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Cantor Fitzgerald increased their target price 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. Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. 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 note on Tuesday, July 7th. Finally, Stifel Nicolaus lifted their price objective on shares of AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.83.

AbCellera Biologics Price Performance

The firm has a market capitalization of $3.80 billion, a P/E ratio of -22.96 and a beta of 1.20. The stock’s fifty day simple moving average is $7.80 and its 200 day simple moving average is $5.42.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. The firm had revenue of $4.05 million for the quarter, compared to analysts’ expectations of $7.85 million. As a group, sell-side analysts forecast that AbCellera Biologics Inc. will post -0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in AbCellera Biologics during the 4th quarter worth $26,938,000. Bank of America Corp DE purchased a new stake in AbCellera Biologics in the second quarter valued at about $48,211,000. Goldman Sachs Group Inc. raised its stake in AbCellera Biologics by 1,636.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company’s stock valued at $14,858,000 after buying an additional 4,094,268 shares during the last quarter. BlackRock Inc. acquired a new stake in AbCellera Biologics in the second quarter worth about $29,872,000. Finally, Tudor Investment Corp ET AL boosted its holdings in AbCellera Biologics by 146.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company’s stock worth $6,142,000 after acquiring an additional 1,065,888 shares in the last quarter. 61.42% of the stock is 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.