AbCellera Biologics Inc. (NASDAQ:ABCL) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• AbCellera Biologics has an average analyst rating of “Moderate Buy” from six firms, with a consensus 12-month price target of $8.00.
• Recent analyst actions have been mixed: Weiss Ratings and Wall Street Zen were bearish, while Benchmark upgraded the stock to buy with an $11 target and JonesTrading also assigned a buy rating.
• The stock was up 5.0% to $6.47, and the company recently beat quarterly earnings expectations with EPS of -$0.14 versus an expected -$0.22 and revenue of $8.31 million versus $5.41 million expected.

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) have received an average recommendation of "Moderate Buy" from the six ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $8.00.

ABCL has been the topic of several recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AbCellera Biologics in a research note on Monday, April 20th. Wall Street Zen lowered shares of AbCellera Biologics from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Benchmark raised AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a report on Tuesday, July 7th. Cantor Fitzgerald started coverage on AbCellera Biologics in a report on Tuesday, May 5th. They issued an "overweight" rating and a $7.00 price target on the stock. Finally, JonesTrading assumed coverage on AbCellera Biologics in a research report on Friday, April 10th. They set a "buy" rating and a $11.00 price objective for the company.

AbCellera Biologics Stock Up 5.0%

Shares of ABCL stock opened at $6.47 on Friday. The stock has a 50-day simple moving average of $5.97 and a 200 day simple moving average of $4.49. The stock has a market capitalization of $1.98 billion, a P/E ratio of -13.48 and a beta of 1.14. AbCellera Biologics has a fifty-two week low of $2.74 and a fifty-two week high of $8.44.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.08. AbCellera Biologics had a negative net margin of 181.75% and a negative return on equity of 14.86%. The firm had revenue of $8.31 million for the quarter, compared to analysts' expectations of $5.41 million. During the same period in the previous year, the business earned ($0.15) earnings per share. On average, sell-side analysts anticipate that AbCellera Biologics will post -0.67 earnings per share for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Several hedge funds have recently modified their holdings of ABCL. AssuredPartners Investment Advisors LLC purchased a new position in AbCellera Biologics in the 4th quarter worth about $34,000. Voleon Capital Management LP acquired a new stake in AbCellera Biologics during the 3rd quarter worth about $56,000. Engineers Gate Manager LP purchased a new stake in AbCellera Biologics during the fourth quarter valued at about $38,000. Allworth Financial LP lifted its stake in AbCellera Biologics by 857.0% during the fourth quarter. Allworth Financial LP now owns 11,274 shares of the company's stock valued at $39,000 after buying an additional 10,096 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of AbCellera Biologics in the first quarter worth about $46,000. 61.42% of the stock is owned by hedge funds and other institutional investors.

About AbCellera Biologics

AbCellera Biologics Inc NASDAQ: ABCL is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company's technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.

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