AbCellera Biologics (NASDAQ:ABCL) Hits New 1-Year High - Still a Buy?

Key Points

• AbCellera Biologics' stock reached a new **52-week high** of $6.52 during trading, closing at **$6.17** with a significant trading volume of over **10 million shares**.
• Investment ratings for the stock are mixed, with **one Strong Buy**, **four Buy**, **one Hold**, and **one Sell**, resulting in an average rating of **"Moderate Buy"** and a target price of **$8.00**.
• The company reported better-than-expected earnings, with **$17.08 million in revenue** and an EPS of **($0.12)**, exceeding the consensus estimate of **($0.17)**.

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $6.52 and last traded at $6.17, with a volume of 10161348 shares changing hands. The stock had previously closed at $5.77.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ABCL. Wall Street Zen upgraded AbCellera Biologics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Stifel Nicolaus reduced their target price on AbCellera Biologics from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Friday, August 8th. KeyCorp boosted their price target on AbCellera Biologics from $5.00 to $10.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Leerink Partners assumed coverage on AbCellera Biologics in a research note on Monday, July 7th. They issued an "outperform" rating and a $5.00 price target on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of AbCellera Biologics in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $8.00.

AbCellera Biologics Stock Down 4.9%

The business has a 50-day moving average price of $4.61 and a two-hundred day moving average price of $3.49. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -10.66 and a beta of 0.69.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.05. AbCellera Biologics had a negative return on equity of 16.17% and a negative net margin of 511.88%.The company had revenue of $17.08 million for the quarter, compared to analyst estimates of $7.55 million. On average, sell-side analysts anticipate that AbCellera Biologics Inc. will post -0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Several institutional investors have recently bought and sold shares of ABCL. Salem Investment Counselors Inc. grew its holdings in AbCellera Biologics by 7.0% during the first 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 in the last quarter. GEM Asset Management LLC bought a new stake in AbCellera Biologics during the first quarter worth $63,000. Janney Montgomery Scott LLC bought a new stake in AbCellera Biologics during the first quarter worth $29,000. AssuredPartners Investment Advisors LLC bought a new stake in AbCellera Biologics during the first quarter worth $34,000. Finally, Stratos Wealth Advisors LLC bought a new stake in AbCellera Biologics during the first quarter worth $27,000. Institutional investors own 61.42% of the company's stock.

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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