Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) have received a consensus rating of "Buy" from the six brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $7.50.
A number of analysts have weighed in on ABCL shares. KeyCorp raised their price target on AbCellera Biologics from $4.00 to $5.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Leerink Partners started coverage on AbCellera Biologics in a research note on Monday. They issued an "outperform" rating and a $5.00 price target on the stock. Truist Financial cut their price target on AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, Leerink Partnrs upgraded AbCellera Biologics to a "strong-buy" rating in a research note on Monday.
Read Our Latest Research Report on ABCL
Institutional Trading of AbCellera Biologics
A number of hedge funds and other institutional investors have recently made changes to their positions in ABCL. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of AbCellera Biologics by 248.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,671,063 shares of the company's stock worth $34,946,000 after purchasing an additional 11,171,063 shares in the last quarter. Capital World Investors acquired a new stake in shares of AbCellera Biologics during the fourth quarter worth about $23,245,000. Guardian Partners Inc. acquired a new stake in shares of AbCellera Biologics during the fourth quarter worth about $5,413,000. Norges Bank acquired a new stake in shares of AbCellera Biologics during the fourth quarter worth about $3,764,000. Finally, Millennium Management LLC grew its holdings in shares of AbCellera Biologics by 96.7% during the fourth quarter. Millennium Management LLC now owns 1,482,715 shares of the company's stock worth $4,344,000 after buying an additional 728,828 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company's stock.
AbCellera Biologics Stock Up 8.5%
NASDAQ:ABCL traded up $0.33 during trading hours on Tuesday, reaching $4.22. 6,979,281 shares of the stock were exchanged, compared to its average volume of 3,462,229. The business has a 50-day moving average of $2.72 and a two-hundred day moving average of $2.74. AbCellera Biologics has a twelve month low of $1.89 and a twelve month high of $4.29. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -7.54 and a beta of 0.62.
AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.02. AbCellera Biologics had a negative return on equity of 15.98% and a negative net margin of 737.56%. The business had revenue of $4.24 million for the quarter, compared to analyst estimates of $7.12 million. On average, research analysts forecast that AbCellera Biologics will post -0.59 EPS for the current fiscal year.
AbCellera Biologics Company Profile
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Get Free ReportAbCellera 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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