AbCellera Biologics Inc. (NASDAQ:ABCL) Receives $8.00 Average PT from Brokerages

Key Points

• AbCellera Biologics Inc. has received a consensus rating of "Buy" from six research firms, with a one-year average price target of $8.00.
• Institutional investors have shown increased interest, with Osaic Holdings raising its stake by 24.2% in the second quarter.
• In its latest earnings report, AbCellera Biologics outperformed expectations with a reported revenue of $17.08 million, significantly higher than the estimated $7.55 million.

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) have received a consensus rating of "Buy" from the six brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $8.00.

Several research firms have issued reports on ABCL. Stifel Nicolaus dropped their price objective on AbCellera Biologics from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Wall Street Zen raised AbCellera Biologics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. KeyCorp upped their target price on AbCellera Biologics from $5.00 to $10.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Leerink Partnrs raised AbCellera Biologics to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Leerink Partners began coverage on AbCellera Biologics in a research report on Monday, July 7th. They set an "outperform" rating and a $5.00 price target on the stock.

Institutional Investors Weigh In On AbCellera Biologics

Large investors have recently modified their holdings of the business. Northern Trust Corp boosted its holdings in shares of AbCellera Biologics by 106.9% during the 4th quarter. Northern Trust Corp now owns 81,621 shares of the company's stock valued at $239,000 after acquiring an additional 42,174 shares in the last quarter. Millennium Management LLC increased its position in AbCellera Biologics by 96.7% during the 4th quarter. Millennium Management LLC now owns 1,482,715 shares of the company's stock valued at $4,344,000 after purchasing an additional 728,828 shares during the period. Two Sigma Investments LP increased its position in AbCellera Biologics by 28.6% during the 4th quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company's stock valued at $9,544,000 after purchasing an additional 723,676 shares during the period. Two Sigma Advisers LP raised its position in shares of AbCellera Biologics by 19.8% in the 4th quarter. Two Sigma Advisers LP now owns 2,608,400 shares of the company's stock worth $7,643,000 after acquiring an additional 430,800 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of AbCellera Biologics by 333.1% in the 4th quarter. Squarepoint Ops LLC now owns 57,685 shares of the company's stock worth $169,000 after acquiring an additional 44,367 shares in the last quarter. Institutional investors and hedge funds own 61.42% of the company's stock.

AbCellera Biologics Stock Performance

ABCL traded up $0.07 on Friday, hitting $4.90. 7,280,236 shares of the company were exchanged, compared to its average volume of 4,971,536. AbCellera Biologics has a 12 month low of $1.89 and a 12 month high of $5.82. The company has a market cap of $1.46 billion, a PE ratio of -8.83 and a beta of 0.64. The stock's fifty day moving average is $4.43 and its 200-day moving average is $3.26.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. The firm had revenue of $17.08 million for the quarter, compared to analyst estimates of $7.55 million. AbCellera Biologics had a negative return on equity of 16.17% and a negative net margin of 511.88%. As a group, equities research analysts expect that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

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.