AbCellera Biologics (NASDAQ:ABCL) Price Target Raised to $15.00

AbCellera Biologics (NASDAQ:ABCL) had its price target hoisted by analysts at StoneX from $11.00 to $15.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. StoneX‘s price objective would indicate a potential upside of 25.52% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald upped their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Thursday, October 15th. JPMorgan Chase & Co. began coverage on shares of AbCellera Biologics in a research note on Tuesday, September 29th. They set an “overweight” rating and a $17.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of AbCellera Biologics in a report on Friday, October 30th. They set a “buy” rating and a $21.00 price target for the company. Finally, Stifel Nicolaus increased their price target on AbCellera Biologics from $9.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.20.

AbCellera Biologics Stock Down 4.1%

NASDAQ:ABCL opened at $11.95 on Wednesday. The stock’s 50-day simple moving average is $12.33 and its 200 day simple moving average is $7.16. The firm has a market capitalization of $3.66 billion, a PE ratio of -24.90 and a beta of 1.59. AbCellera Biologics has a twelve month low of $2.74 and a twelve month high of $15.02.

AbCellera Biologics (NASDAQ:ABCL) last issued its earnings results on Monday, November 9th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.04. The firm had revenue of $10.64 million during the quarter, compared to the consensus estimate of $8.41 million. AbCellera Biologics had a negative return on equity of 15.35% and a negative net margin of 218.54%. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. On average, analysts anticipate that AbCellera Biologics will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new stake in shares of AbCellera Biologics in the 1st quarter valued at about $46,000. AssuredPartners Investment Advisors LLC bought a new position in shares of AbCellera Biologics during the second quarter worth about $80,000. Blume Capital Management Inc. raised its position in shares of AbCellera Biologics by 22.7% during the third quarter. Blume Capital Management Inc. now owns 5,501 shares of the company’s stock worth $80,000 after acquiring an additional 1,017 shares during the last quarter. Allworth Financial LP acquired a new position in shares of AbCellera Biologics in the second quarter worth approximately $91,000. Finally, NewEdge Advisors LLC lifted its stake in shares of AbCellera Biologics by 4,850.7% in the second quarter. NewEdge Advisors LLC now owns 14,852 shares of the company’s stock worth $117,000 after acquiring an additional 14,552 shares during the period. 61.42% of the stock is owned by institutional investors.

About AbCellera Biologics

AbCellera Biologics Inc. is a biotechnology company headquartered in Vancouver, Canada. It discovers and develops antibody-based medicines, using laboratory and computational tools to identify and optimize antibodies that may be developed into treatments for disease. The company works with pharmaceutical and biotechnology partners on antibody discovery and drug development, while also advancing a portfolio of its own therapeutic candidates. Its work spans early-stage research through preclinical and clinical development, with programs focused on areas including cancer and immune-related diseases.