AbCellera Biologics (NASDAQ:ABCL) Coverage Initiated by Analysts at Leerink Partners

Investment analysts at Leerink Partners began coverage on shares of AbCellera Biologics (NASDAQ:ABCL - Get Free Report) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage set an "outperform" rating and a $5.00 price target on the stock. Leerink Partners' target price would indicate a potential upside of 31.41% from the company's current price.

Several other equities research analysts have also weighed in on the company. KeyCorp lifted their price target on AbCellera Biologics from $4.00 to $5.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Truist Financial lowered their price target on shares of AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.50.

AbCellera Biologics Trading Up 1.5%

NASDAQ:ABCL opened at $3.81 on Monday. The company has a 50-day moving average price of $2.66 and a 200-day moving average price of $2.72. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -6.79 and a beta of 0.62. AbCellera Biologics has a 12 month low of $1.89 and a 12 month high of $4.09.

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 the consensus estimate 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 business had revenue of $4.24 million during the quarter, compared to analyst estimates of $7.12 million. Equities analysts forecast that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Institutional investors have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of AbCellera Biologics by 248.2% in 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 buying an additional 11,171,063 shares in the last quarter. Capital World Investors purchased a new position in AbCellera Biologics in the 4th quarter worth approximately $23,245,000. Guardian Partners Inc. bought a new position in AbCellera Biologics in the 4th quarter valued at approximately $5,413,000. Norges Bank bought a new position in AbCellera Biologics in the 4th quarter valued at approximately $3,764,000. Finally, Millennium Management LLC boosted its stake in AbCellera Biologics by 96.7% during the 4th quarter. Millennium Management LLC now owns 1,482,715 shares of the company's stock valued at $4,344,000 after purchasing an additional 728,828 shares during the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

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.

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