AbCellera Biologics (NASDAQ:ABCL - Get Free Report)'s stock had its "sell (d-)" rating reiterated by stock analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.
Several other research analysts have also weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of AbCellera Biologics from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Leerink Partnrs raised shares of AbCellera Biologics to a "strong-buy" rating in a research note on Monday, July 7th. KeyCorp lifted their price objective on shares of AbCellera Biologics from $5.00 to $10.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Wall Street Zen raised shares of AbCellera Biologics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Leerink Partners began coverage on AbCellera Biologics in a research note on Monday, July 7th. They issued an "outperform" rating and a $5.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $8.00.
Check Out Our Latest Report on ABCL
AbCellera Biologics Stock Up 11.2%
NASDAQ:ABCL traded up $0.65 during mid-day trading on Wednesday, reaching $6.42. 6,144,889 shares of the company were exchanged, compared to its average volume of 5,083,714. The stock has a market cap of $1.92 billion, a PE ratio of -11.72 and a beta of 0.69. AbCellera Biologics has a 12 month low of $1.89 and a 12 month high of $6.49. The company has a fifty day moving average of $4.58 and a 200 day moving average of $3.47.
AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. The company had revenue of $17.08 million for the quarter, compared to analyst estimates of $7.55 million. AbCellera Biologics had a negative net margin of 511.88% and a negative return on equity of 16.17%. On average, equities research analysts anticipate that AbCellera Biologics will post -0.59 EPS for the current fiscal year.
Hedge Funds Weigh In On AbCellera Biologics
Institutional investors have recently modified their holdings of the company. Creative Planning raised its holdings in shares of AbCellera Biologics by 6.9% in the 2nd quarter. Creative Planning now owns 41,003 shares of the company's stock valued at $141,000 after acquiring an additional 2,656 shares in the last quarter. Raymond James Financial Inc. lifted its position in AbCellera Biologics by 17.0% in the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company's stock worth $96,000 after buying an additional 4,070 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in AbCellera Biologics by 7.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 78,800 shares of the company's stock worth $176,000 after buying an additional 5,150 shares during the last quarter. Pier 88 Investment Partners LLC lifted its position in AbCellera Biologics by 2.9% in the 1st quarter. Pier 88 Investment Partners LLC now owns 243,790 shares of the company's stock worth $544,000 after buying an additional 6,890 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in AbCellera Biologics in the 2nd quarter worth approximately $35,000. 61.42% of the stock is owned by institutional investors and hedge funds.
About AbCellera Biologics
(
Get Free Report)
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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