AbCellera Biologics (NASDAQ:ABCL) Shares Gap Up - Time to Buy?

Key Points

• AbCellera Biologics' stock opened at $6.25 after closing at $5.98, with a last trading price of $6.12 and a significant volume of 2,732,533 shares.
• Analyst ratings show a mix of opinions, with one Strong Buy, four Buy, one Hold, and one Sell rating, resulting in an average rating of "Moderate Buy" and a consensus target price of $8.00.
• AbCellera reported a quarterly earnings outperform, with revenue of $17.08 million exceeding expectations, and a projected EPS of -0.59 for the current fiscal year.

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $5.98, but opened at $6.25. AbCellera Biologics shares last traded at $6.12, with a volume of 2,732,533 shares.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ABCL shares. Wall Street Zen upgraded AbCellera Biologics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Leerink Partners assumed coverage on AbCellera Biologics in a report on Monday, July 7th. They issued an "outperform" rating and a $5.00 price target for the company. KeyCorp raised their price target on shares of AbCellera Biologics from $5.00 to $10.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AbCellera Biologics in a research report on Saturday, September 27th. Finally, Stifel Nicolaus decreased their price target 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 analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, AbCellera Biologics presently has an average rating of "Moderate Buy" and a consensus target price of $8.00.

AbCellera Biologics Trading Down 1.3%

The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -10.73 and a beta of 0.69. The firm's 50 day simple moving average is $4.52 and its 200-day simple moving average is $3.39.

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

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors have recently added to or reduced their stakes in ABCL. Stratos Wealth Advisors LLC acquired a new stake in shares of AbCellera Biologics in the first quarter worth $27,000. Janney Montgomery Scott LLC purchased a new stake in AbCellera Biologics during the 1st quarter worth $29,000. AssuredPartners Investment Advisors LLC purchased a new stake in AbCellera Biologics during the 1st quarter worth $34,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of AbCellera Biologics during the second quarter worth about $35,000. Finally, J2 Capital Management Inc acquired a new position in shares of AbCellera Biologics during the second quarter worth about $45,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.