Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) have been assigned a consensus rating of "Buy" from the six analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $7.50.
Several equities research analysts have issued reports on the company. KeyCorp raised their target price on AbCellera Biologics from $4.00 to $5.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Leerink Partners began coverage on AbCellera Biologics in a research note on Monday. They issued an "outperform" rating and a $5.00 price objective for the company. Leerink Partnrs raised AbCellera Biologics to a "strong-buy" rating in a research note on Monday. Finally, Truist Financial dropped 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.
View Our Latest Stock Report on ABCL
AbCellera Biologics Trading Up 2.4%
ABCL stock traded up $0.10 during midday trading on Tuesday, hitting $3.99. 1,453,569 shares of the company's stock were exchanged, compared to its average volume of 3,445,451. The business has a 50-day simple moving average of $2.72 and a two-hundred day simple moving average of $2.74. The stock has a market capitalization of $1.19 billion, a PE ratio of -7.08 and a beta of 0.62. AbCellera Biologics has a 1-year low of $1.89 and a 1-year high of $4.12.
AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. The company had revenue of $4.24 million during the quarter, compared to analysts' expectations of $7.12 million. AbCellera Biologics had a negative return on equity of 15.98% and a negative net margin of 737.56%. As a group, research analysts expect that AbCellera Biologics will post -0.59 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stratos Wealth Advisors LLC purchased a new position in AbCellera Biologics in the first quarter valued at $27,000. DKM Wealth Management Inc. purchased a new position in AbCellera Biologics in the fourth quarter valued at $29,000. Janney Montgomery Scott LLC purchased a new position in AbCellera Biologics in the first quarter valued at $29,000. AssuredPartners Investment Advisors LLC purchased a new position in AbCellera Biologics in the first quarter valued at $34,000. Finally, Balyasny Asset Management L.P. purchased a new position in AbCellera Biologics in the fourth quarter valued at $40,000. 61.42% of the stock is currently owned by hedge funds and other institutional investors.
About AbCellera Biologics
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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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