AbCellera Biologics (NASDAQ:ABCL) Sets New 12-Month High - Time to Buy?

Key Points

• AbCellera Biologics reached a new 52-week high, trading as high as $11.52 with a market capitalization of approximately $3.53 billion.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $12.83; Truist Financial raised its target sharply to $30.
• The company’s latest quarter fell short of expectations, reporting an adjusted loss of $0.18 per share versus an expected $0.16 loss and revenue of $4.05 million versus an expected $7.85 million.

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $11.52 and last traded at $11.5250, with a volume of 4415068 shares traded. The stock had previously closed at $11.38.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABCL. Cantor Fitzgerald lifted their target price on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Stifel Nicolaus raised their price objective on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Truist Financial lifted their price objective on AbCellera Biologics from $12.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of AbCellera Biologics in a report on Friday, July 17th. Finally, Wall Street Zen downgraded AbCellera Biologics from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. One investment 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 given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.83.

AbCellera Biologics Price Performance

The firm has a market cap of $3.53 billion, a PE ratio of -21.31 and a beta of 1.20. The stock has a 50 day simple moving average of $6.65 and a 200-day simple moving average of $4.91.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The firm had revenue of $4.05 million for the quarter, compared to analysts' expectations of $7.85 million. AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. As a group, equities analysts predict that AbCellera Biologics Inc. will post -0.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ABCL. Creative Planning grew its holdings in AbCellera Biologics by 6.9% during the 2nd quarter. Creative Planning now owns 41,003 shares of the company's stock valued at $141,000 after buying an additional 2,656 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of AbCellera Biologics by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,546 shares of the company's stock worth $50,000 after buying an additional 2,993 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of AbCellera Biologics by 12.9% in the fourth quarter. Advisory Services Network LLC now owns 29,664 shares of the company's stock worth $101,000 after buying an additional 3,386 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of AbCellera Biologics by 17.0% during the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company's stock worth $96,000 after acquiring an additional 4,070 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in AbCellera Biologics by 1.2% during the fourth quarter. Osaic Holdings Inc. now owns 347,321 shares of the company's stock valued at $1,188,000 after acquiring an additional 4,246 shares in the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

About AbCellera Biologics

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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