AbCellera Biologics (NASDAQ:ABCL) Stock Lifted to Strong-Buy by UBS Group

UBS Group upgraded shares of AbCellera Biologics (NASDAQ:ABCL) to a strong-buy rating in a research report report published on Sunday morning,Zacks reports.

A number of other brokerages have also recently weighed in on ABCL. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Wall Street Zen cut shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. Benchmark raised 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. The Goldman Sachs Group assumed coverage on AbCellera Biologics in a research note on Thursday, September 24th. They set a “neutral” rating and a $13.00 price objective on the stock. Finally, Stifel Nicolaus boosted their target price on AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, AbCellera Biologics currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.89.

AbCellera Biologics Price Performance

Shares of NASDAQ:ABCL opened at $12.61 on Friday. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of -23.35 and a beta of 1.41. The firm’s 50 day simple moving average is $11.66 and its 200 day simple moving average is $7.50. AbCellera Biologics has a fifty-two week low of $2.74 and a fifty-two week high of $15.02.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The firm had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. Equities research analysts expect that AbCellera Biologics will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE bought a new stake in shares of AbCellera Biologics in the second quarter worth $48,211,000. BlackRock Inc. acquired a new position in AbCellera Biologics during the second quarter worth $29,872,000. Royal Bank of Canada grew its position in AbCellera Biologics by 5.6% in the first quarter. Royal Bank of Canada now owns 394,753 shares of the company’s stock valued at $1,378,000 after purchasing an additional 20,897 shares in the last quarter. SEB Asset Management AB bought a new position in AbCellera Biologics in the first quarter valued at $1,188,000. Finally, Headlands Technologies LLC increased its stake in AbCellera Biologics by 34.8% in the 2nd quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock valued at $1,933,000 after buying an additional 63,596 shares during the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.

AbCellera Biologics Company Profile

AbCellera Biologics Inc is a biotechnology company that develops technologies for the discovery and development of antibody medicines. Its platform combines high-throughput screening, single-cell analysis, microfluidics, data science and machine learning to identify antibodies with potential therapeutic applications.

The company works with pharmaceutical and biotechnology partners worldwide, helping them discover and advance antibody candidates for areas such as cancer, infectious diseases, autoimmune disorders and other medical conditions.