AbCellera Biologics Inc. (NASDAQ:ABCL) Given Average Rating of "Buy" by Analysts

Key Points

• AbCellera Biologics Inc. has received an average analyst rating of "Buy", with one strong buy, four buy, and one hold recommendation, alongside a one-year price target of $8.75.
• The company's stock recently opened at $4.24, with a market capitalization of $1.27 billion, and reported a quarterly loss with an EPS of (0.15), surpassing the consensus estimate.
• Hedge funds currently hold 61.42% of AbCellera's stock, indicating significant institutional interest, with recent changes in positions boosting overall holdings in the company.

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) has received an average recommendation of "Buy" from the six analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $8.75.

Several analysts have recently weighed in on ABCL shares. Leerink Partners began coverage on shares of AbCellera Biologics in a research note on Monday, July 7th. They set an "outperform" rating and a $5.00 price target for the company. Truist Financial dropped their price target on AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Leerink Partnrs upgraded AbCellera Biologics to a "strong-buy" rating in a report on Monday, July 7th. Finally, KeyCorp increased their target price on shares of AbCellera Biologics from $5.00 to $10.00 and gave the stock an "overweight" rating in a report on Monday, July 14th.

AbCellera Biologics Stock Down 5.1%

Shares of AbCellera Biologics stock opened at $4.24 on Friday. The stock's fifty day moving average is $3.58 and its two-hundred day moving average is $2.92. AbCellera Biologics has a 52 week low of $1.89 and a 52 week high of $5.82. The company has a market capitalization of $1.27 billion, a PE ratio of -7.57 and a beta of 0.64.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.02. The company had revenue of $4.24 million for the quarter, compared to the consensus estimate of $7.12 million. AbCellera Biologics had a negative net margin of 737.56% and a negative return on equity of 15.98%. As a group, research analysts anticipate that AbCellera Biologics will post -0.59 earnings per share for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Hedge funds have recently made changes to their positions in the stock. Salem Investment Counselors Inc. boosted its holdings in AbCellera Biologics by 7.0% in the first quarter. Salem Investment Counselors Inc. now owns 78,800 shares of the company's stock worth $176,000 after acquiring an additional 5,150 shares in the last quarter. Pier 88 Investment Partners LLC increased its holdings in shares of AbCellera Biologics by 2.9% during the first quarter. Pier 88 Investment Partners LLC now owns 243,790 shares of the company's stock valued at $544,000 after acquiring an additional 6,890 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of AbCellera Biologics in the 2nd quarter valued at approximately $35,000. Stratos Wealth Advisors LLC acquired a new stake in AbCellera Biologics in the 1st quarter worth approximately $27,000. Finally, Invesco Ltd. boosted its stake in AbCellera Biologics by 114.6% in the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company's stock worth $54,000 after purchasing an additional 12,893 shares in the last quarter. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

About AbCellera Biologics

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.

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