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AbCellera Biologics Inc. (NASDAQ:ABCL) Receives $8.00 Average Target Price from Analysts

AbCellera Biologics logo with Medical background

Key Points

  • AbCellera Biologics Inc. has received a consensus recommendation of "Buy" from six analysts, with an average target price of $8.00 over the next 12 months.
  • The company recently reported earnings of ($0.12) per share, exceeding analyst expectations, with revenue of $17.08 million for the quarter.
  • Significant hedge fund activity has been noted, with UBS Asset Management increasing its stake in AbCellera by 248.2% in the first quarter.
  • Want stock alerts on AbCellera Biologics? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) have been given an average recommendation of "Buy" by the six research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $8.00.

Several research analysts have recently weighed in on the company. Wall Street Zen raised AbCellera Biologics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Truist Financial reduced their price objective on AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Leerink Partnrs raised AbCellera Biologics to a "strong-buy" rating in a research report on Monday, July 7th. Stifel Nicolaus reduced their price objective on AbCellera Biologics from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Leerink Partners assumed coverage on AbCellera Biologics in a report on Monday, July 7th. They set an "outperform" rating and a $5.00 target price on the stock.

Read Our Latest Report on AbCellera Biologics

Institutional Trading of AbCellera Biologics

Several institutional investors and hedge funds have recently bought and sold shares of ABCL. Raymond James Financial Inc. bought a new stake in AbCellera Biologics during the fourth quarter worth about $57,000. Barclays PLC raised its stake in AbCellera Biologics by 72.0% in the fourth quarter. Barclays PLC now owns 38,351 shares of the company's stock valued at $112,000 after buying an additional 16,058 shares during the period. Mariner LLC acquired a new position in shares of AbCellera Biologics in the fourth quarter valued at approximately $42,000. Boothbay Fund Management LLC acquired a new position in shares of AbCellera Biologics in the fourth quarter valued at approximately $46,000. Finally, Northern Trust Corp grew its position in shares of AbCellera Biologics by 106.9% in the fourth quarter. Northern Trust Corp now owns 81,621 shares of the company's stock valued at $239,000 after purchasing an additional 42,174 shares during the last quarter. Institutional investors own 61.42% of the company's stock.

AbCellera Biologics Stock Down 2.8%

Shares of AbCellera Biologics stock traded down $0.12 during trading on Wednesday, reaching $4.18. 3,613,750 shares of the company were exchanged, compared to its average volume of 5,118,854. AbCellera Biologics has a twelve month low of $1.89 and a twelve month high of $5.82. The business has a 50-day moving average price of $4.25 and a 200-day moving average price of $3.09. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -7.60 and a beta of 0.65.

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, topping analysts' consensus estimates of ($0.17) by $0.05. AbCellera Biologics had a negative return on equity of 16.17% and a negative net margin of 511.88%.The business had revenue of $17.08 million during the quarter, compared to analysts' expectations of $7.55 million. On average, equities research analysts forecast that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

About AbCellera Biologics

(Get Free Report)

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.

See Also

Analyst Recommendations for AbCellera Biologics (NASDAQ:ABCL)

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