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

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $5.09 and last traded at $5.17, with a volume of 617348 shares. The stock had previously closed at $4.48.

Analyst Ratings Changes

Several research firms have commented on ABCL. Truist Financial dropped their target price on AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Leerink Partners started coverage on AbCellera Biologics in a research report on Monday, July 7th. They set an "outperform" rating and a $5.00 price objective on the stock. Leerink Partnrs upgraded AbCellera Biologics to a "strong-buy" rating in a research note on Monday, July 7th. Finally, KeyCorp raised their price target on AbCellera Biologics from $5.00 to $10.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $8.75.

AbCellera Biologics Price Performance

The company's fifty day moving average price is $3.03 and its 200 day moving average price is $2.80. The company has a market cap of $1.54 billion, a PE ratio of -9.22 and a beta of 0.62.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $4.24 million during the quarter, compared to analyst estimates of $7.12 million. On average, analysts forecast that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ABCL. Stratos Wealth Advisors LLC acquired a new position in AbCellera Biologics during the 1st quarter worth about $27,000. DKM Wealth Management Inc. purchased a new stake in shares of AbCellera Biologics in the fourth quarter valued at approximately $29,000. Janney Montgomery Scott LLC acquired a new position in AbCellera Biologics during the first quarter worth $29,000. AssuredPartners Investment Advisors LLC acquired a new position in shares of AbCellera Biologics in the first quarter worth $34,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of AbCellera Biologics in the fourth quarter worth $40,000. 61.42% of the stock is owned by institutional investors and hedge funds.

About AbCellera Biologics

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.