AbCellera Biologics (NASDAQ:ABCL) Reaches New 12-Month High – Time to Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL) shares hit a new 52-week high during trading on Monday. The stock traded as high as $13.32 and last traded at $13.1750, with a volume of 2228977 shares traded. The stock had previously closed at $12.70.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ABCL shares. Stifel Nicolaus boosted their target price on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, July 7th. Truist Financial raised their price target on AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. Finally, Cantor Fitzgerald increased their target price on AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.86.

AbCellera Biologics Stock Performance

The stock has a fifty day simple moving average of $9.80 and a 200-day simple moving average of $6.67. The stock has a market cap of $4.32 billion, a P/E ratio of -26.10 and a beta of 1.32.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share (EPS) 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 analyst estimates 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 Inc. will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in shares of AbCellera Biologics in the second quarter valued at approximately $48,211,000. BlackRock Inc. bought a new position in shares of AbCellera Biologics during the second quarter valued at $29,872,000. Royal Bank of Canada raised its position in shares of AbCellera Biologics by 5.6% during the first quarter. Royal Bank of Canada now owns 394,753 shares of the company’s stock worth $1,378,000 after acquiring an additional 20,897 shares during the last quarter. SEB Asset Management AB acquired a new position in AbCellera Biologics in the first quarter valued at $1,188,000. Finally, Headlands Technologies LLC grew its stake in AbCellera Biologics by 34.8% during the second quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock worth $1,933,000 after purchasing an additional 63,596 shares during the period. Institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

AbCellera Biologics Inc is a biotechnology company that develops antibody-based medicines in partnership with pharmaceutical and biotechnology companies. Its technology platform combines artificial intelligence, machine learning, high-throughput screening, single-cell analysis and other laboratory techniques to identify and evaluate antibody candidates.

The company provides integrated antibody discovery and development services, helping partners move from biological targets and immune-cell samples to optimized therapeutic antibody candidates.