AbCellera Biologics (NASDAQ:ABCL) Shares Gap Up - Should You Buy?

Key Points

• AbCellera Biologics shares opened at $5.03 after closing at $4.83, with a significant trading volume of 2,963,150 shares.
• Wall Street analysts have largely positive outlooks on the company, with a consensus rating of "Buy" and an average price target of $8.00, despite a range of recent ratings changes.
• In its latest earnings report, AbCellera Biologics surpassed consensus estimates, reporting $17.08 million in revenue and earnings per share of ($0.12), outperforming the expected ($0.17).

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $4.83, but opened at $5.03. AbCellera Biologics shares last traded at $5.01, with a volume of 2,963,150 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Leerink Partners initiated coverage on AbCellera Biologics in a report on Monday, July 7th. They issued an "outperform" rating and a $5.00 target price on the stock. Leerink Partnrs upgraded AbCellera Biologics to a "strong-buy" rating in a research note on Monday, July 7th. KeyCorp raised their price objective on AbCellera Biologics from $5.00 to $10.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Wall Street Zen upgraded AbCellera Biologics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Stifel Nicolaus dropped their price objective on AbCellera Biologics from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $8.00.

AbCellera Biologics Trading Up 1.3%

The firm has a 50-day moving average price of $4.43 and a 200-day moving average price of $3.26. The stock has a market capitalization of $1.46 billion, a PE ratio of -8.92 and a beta of 0.64.

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

Institutional Trading of AbCellera Biologics

A number of large investors have recently modified their holdings of ABCL. Stratos Wealth Advisors LLC bought a new stake in shares of AbCellera Biologics during the 1st quarter valued at about $27,000. Janney Montgomery Scott LLC bought a new stake in shares of AbCellera Biologics during the 1st quarter valued at about $29,000. AssuredPartners Investment Advisors LLC bought a new stake in shares of AbCellera Biologics during the 1st quarter valued at about $34,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of AbCellera Biologics during the 2nd quarter valued at about $35,000. Finally, J2 Capital Management Inc bought a new stake in shares of AbCellera Biologics during the 2nd quarter valued at about $45,000. 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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