AbCellera Biologics (NASDAQ:ABCL) Reaches New 12-Month High - Still a Buy?

Key Points

• AbCellera shares surged 37.4%, reaching a new 52-week high of $9.01 and last trading at $8.83, while the company’s market capitalization reached approximately $2.92 billion.
• Analyst sentiment remains mixed but leans positive: the stock has a consensus “Moderate Buy” rating and an average price target of $9.40, with recent targets ranging from $9.00 to $12.00.
• The company reported weaker-than-expected quarterly results, including a loss of $0.18 per share versus estimates of $0.16 and revenue of $4.05 million versus expectations of $7.85 million; institutional investors own 61.42% of the shares.

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $9.01 and last traded at $8.83, with a volume of 8136002 shares trading hands. The stock had previously closed at $6.93.

Analyst Ratings Changes

Several research firms have recently weighed in on ABCL. Weiss Ratings reissued a "sell (d-)" rating on shares of AbCellera Biologics in a report on Friday, July 17th. Wall Street Zen downgraded AbCellera Biologics from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Benchmark raised AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a research report on Tuesday, July 7th. Stifel Nicolaus boosted their price objective on AbCellera Biologics from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Cantor Fitzgerald increased their price objective on AbCellera Biologics from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.40.

AbCellera Biologics Stock Up 37.4%

The stock has a market capitalization of $2.92 billion, a PE ratio of -17.64 and a beta of 1.20. The firm's fifty day moving average is $6.22 and its 200-day moving average is $4.69.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02). AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. The business had revenue of $4.05 million during the quarter, compared to analysts' expectations of $7.85 million. On average, analysts expect that AbCellera Biologics Inc. will post -0.67 EPS for the current year.

Institutional Trading of AbCellera Biologics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. lifted its position in shares of AbCellera Biologics by 114.6% during the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company's stock valued at $54,000 after acquiring an additional 12,893 shares during the period. Geode Capital Management LLC raised its holdings in shares of AbCellera Biologics by 3.5% in the second quarter. Geode Capital Management LLC now owns 363,188 shares of the company's stock worth $1,246,000 after acquiring an additional 12,301 shares during the last quarter. Creative Planning raised its holdings in shares of AbCellera Biologics by 6.9% in the second quarter. Creative Planning now owns 41,003 shares of the company's stock worth $141,000 after acquiring an additional 2,656 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of AbCellera Biologics by 17.0% in the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company's stock valued at $96,000 after acquiring an additional 4,070 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of AbCellera Biologics by 1,304.5% in the second quarter. Bank of America Corp DE now owns 224,365 shares of the company's stock valued at $770,000 after acquiring an additional 208,390 shares in the last quarter. Institutional investors and hedge funds own 61.42% of the company's stock.

AbCellera Biologics Company Profile

AbCellera Biologics Inc NASDAQ: ABCL is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company's technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.

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