AbCellera Biologics Inc. (NASDAQ:ABCL) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• AbCellera Biologics Inc. has received a consensus rating of "Moderate Buy" from analysts, with an average one-year price target of $8.00.
• The company's shares opened at $6.10 and have experienced a 52-week high of $6.51 and a low of $1.89.
• In its latest earnings report, AbCellera Biologics reported $17.08 million in revenue, significantly surpassing analysts' estimates of $7.55 million.

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seven analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.00.

A number of equities research analysts have commented on ABCL shares. Stifel Nicolaus dropped their price objective on shares of AbCellera Biologics from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Leerink Partners initiated coverage on shares of AbCellera Biologics in a research report on Monday, July 7th. They issued an "outperform" rating and a $5.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of AbCellera Biologics in a report on Wednesday, October 8th. Leerink Partnrs upgraded shares of AbCellera Biologics to a "strong-buy" rating in a report on Monday, July 7th. Finally, KeyCorp upped their target price on shares of AbCellera Biologics from $5.00 to $10.00 and gave the company an "overweight" rating in a report on Monday, July 14th.

AbCellera Biologics Trading Up 8.5%

Shares of NASDAQ:ABCL opened at $6.10 on Thursday. AbCellera Biologics has a 52 week low of $1.89 and a 52 week high of $6.51. The company's 50 day moving average is $4.75 and its two-hundred day moving average is $3.61. The company has a market cap of $1.82 billion, a PE ratio of -11.09 and a beta of 0.69.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ABCL. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of AbCellera Biologics by 248.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,671,063 shares of the company's stock valued at $34,946,000 after buying an additional 11,171,063 shares in the last quarter. Norges Bank acquired a new position in shares of AbCellera Biologics in the 2nd quarter valued at $2,164,000. Bank of America Corp DE boosted its holdings in shares of AbCellera Biologics by 1,304.5% in the 2nd quarter. Bank of America Corp DE now owns 224,365 shares of the company's stock valued at $770,000 after buying an additional 208,390 shares in the last quarter. Osaic Holdings Inc. boosted its stake in AbCellera Biologics by 24.2% during the 2nd quarter. Osaic Holdings Inc. now owns 268,001 shares of the company's stock worth $919,000 after purchasing an additional 52,227 shares during the period. Finally, State of Michigan Retirement System acquired a new stake in AbCellera Biologics during the 2nd quarter worth $169,000. Institutional investors and hedge funds own 61.42% of the company's stock.

AbCellera Biologics Company Profile

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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