AbCellera Biologics Inc. (NASDAQ:ABCL) Receives Consensus Recommendation of "Buy" from Analysts

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.

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

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.