AbCellera Biologics Inc. (NASDAQ:ABCL) Given Average Rating of "Buy" by Analysts

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) has received a consensus rating of "Buy" from the six brokerages that are presently covering the company, MarketBeat reports. One 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 12-month price objective among analysts that have issued a report on the stock in the last year is $7.50.

A number of equities research analysts have weighed in on ABCL shares. Truist Financial lowered their price objective on AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Leerink Partnrs upgraded AbCellera Biologics to a "strong-buy" rating in a research note on Monday. KeyCorp upped their price target on shares of AbCellera Biologics from $4.00 to $5.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Finally, Leerink Partners began coverage on shares of AbCellera Biologics in a report on Monday. They issued an "outperform" rating and a $5.00 price target on the stock.

AbCellera Biologics Trading Down 3.4%

NASDAQ:ABCL traded down $0.15 during trading hours on Tuesday, hitting $4.11. The stock had a trading volume of 1,718,898 shares, compared to its average volume of 3,466,646. AbCellera Biologics has a 1-year low of $1.89 and a 1-year high of $4.33. The business has a 50 day simple moving average of $2.79 and a two-hundred day simple moving average of $2.76. The company has a market cap of $1.23 billion, a PE ratio of -7.31 and a beta of 0.62.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.02. AbCellera Biologics had a negative net margin of 737.56% and a negative return on equity of 15.98%. The firm had revenue of $4.24 million for the quarter, compared to analyst estimates of $7.12 million. Research analysts expect that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Several institutional investors and hedge funds have recently made changes to their positions in 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 during the period. EntryPoint Capital LLC boosted its holdings in shares of AbCellera Biologics by 11.3% in the 1st quarter. EntryPoint Capital LLC now owns 187,822 shares of the company's stock valued at $419,000 after buying an additional 19,140 shares during the period. Virtu Financial LLC acquired a new position in shares of AbCellera Biologics in the 1st quarter valued at about $52,000. Invesco Ltd. raised its position in shares of AbCellera Biologics by 114.6% during the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company's stock worth $54,000 after purchasing an additional 12,893 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of AbCellera Biologics by 3.4% during the 1st quarter. Federated Hermes Inc. now owns 947,751 shares of the company's stock worth $2,113,000 after purchasing an additional 31,514 shares during the period. 61.42% of the stock is owned by institutional investors and hedge funds.

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.