Analysts Set AbCellera Biologics Inc. (NASDAQ:ABCL) Price Target at $7.50

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) has been assigned an average recommendation of "Buy" from the six ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $7.50.

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

Hedge Funds Weigh In On AbCellera Biologics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Stratos Wealth Advisors LLC acquired a new stake in AbCellera Biologics during the 1st quarter worth about $27,000. DKM Wealth Management Inc. bought a new stake in shares of AbCellera Biologics during the 4th quarter valued at about $29,000. Janney Montgomery Scott LLC acquired a new stake in AbCellera Biologics during the first quarter worth approximately $29,000. AssuredPartners Investment Advisors LLC bought a new stake in AbCellera Biologics in the first quarter worth approximately $34,000. Finally, Balyasny Asset Management L.P. acquired a new position in AbCellera Biologics in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 61.42% of the company's stock.

AbCellera Biologics Trading Down 5.6%

ABCL traded down $0.24 on Tuesday, reaching $4.01. The stock had a trading volume of 5,616,222 shares, compared to its average volume of 3,487,406. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -7.16 and a beta of 0.62. AbCellera Biologics has a fifty-two week low of $1.89 and a fifty-two week high of $4.33. The firm has a 50-day moving average of $2.82 and a 200-day moving average of $2.76.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $4.24 million during the quarter, compared to the consensus estimate of $7.12 million. Sell-side analysts anticipate that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

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.