AbCellera Biologics (NASDAQ:ABCL) Sets New 52-Week High - What's Next?

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $3.77 and last traded at $3.68, with a volume of 7943348 shares. The stock had previously closed at $3.33.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Truist Financial decreased their target price on AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating for the company in a report on Friday, May 16th. Stifel Nicolaus decreased their price target on AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating for the company in a report on Friday, February 28th. KeyCorp boosted their price target on AbCellera Biologics from $4.00 to $5.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Finally, Benchmark reissued a "hold" rating on shares of AbCellera Biologics in a report on Monday, March 3rd.

AbCellera Biologics Stock Down 3.5%

The firm has a market capitalization of $1.08 billion, a PE ratio of -6.45 and a beta of 0.36. The stock has a 50-day moving average price of $2.55 and a 200 day moving average price of $2.69.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.15) EPS for the quarter, beating 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 analysts' expectations of $7.12 million. As a group, equities analysts predict that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.

Institutional Trading of AbCellera Biologics

Several large investors have recently made changes to their positions in ABCL. Raymond James Financial Inc. purchased a new stake in shares of AbCellera Biologics during the fourth quarter worth approximately $57,000. HighTower Advisors LLC increased its position in shares of AbCellera Biologics by 577.9% during the fourth quarter. HighTower Advisors LLC now owns 71,086 shares of the company's stock worth $208,000 after purchasing an additional 60,600 shares in the last quarter. IMG Wealth Management Inc. purchased a new stake in shares of AbCellera Biologics during the fourth quarter worth approximately $56,000. Signaturefd LLC increased its position in shares of AbCellera Biologics by 61.2% during the fourth quarter. Signaturefd LLC now owns 57,466 shares of the company's stock worth $168,000 after purchasing an additional 21,807 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of AbCellera Biologics during the fourth quarter worth approximately $63,000. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

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.