AbCellera Biologics (NASDAQ:ABCL) Trading Up 7.6% - Should You Buy?

Key Points

• Shares of AbCellera Biologics (NASDAQ:ABCL) rose by 7.6%, trading at $4.61, despite a significant decline in average session volume.
• Analysts have mixed ratings on the stock, with target prices ranging from $5.00 to $10.00, and a current average rating of "Buy".
• The company reported earnings above expectations, with a revenue of $17.08 million for the quarter, significantly exceeding analyst estimates.

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report)'s stock price traded up 7.6% during trading on Thursday . The stock traded as high as $4.58 and last traded at $4.61. 489,371 shares changed hands during trading, a decline of 90% from the average session volume of 4,954,288 shares. The stock had previously closed at $4.28.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Leerink Partnrs raised AbCellera Biologics to a "strong-buy" rating in a research note on Monday, July 7th. 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. Wall Street Zen raised AbCellera Biologics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Leerink Partners started coverage on AbCellera Biologics in a research note on Monday, July 7th. They issued an "outperform" rating and a $5.00 target price on the stock. Finally, KeyCorp upped their target price on AbCellera Biologics from $5.00 to $10.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, AbCellera Biologics presently has an average rating of "Buy" and an average price target of $8.00.

AbCellera Biologics Trading Up 9.7%

The company has a market cap of $1.43 billion, a PE ratio of -8.67 and a beta of 0.64. The business has a 50 day simple moving average of $4.38 and a two-hundred day simple moving average of $3.17.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.05. AbCellera Biologics had a negative return on equity of 16.17% and a negative net margin of 511.88%.The company had revenue of $17.08 million for the quarter, compared to analyst estimates of $7.55 million. On average, equities research 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 institutional investors and hedge funds have recently made changes to their positions in ABCL. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of AbCellera Biologics by 248.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,671,063 shares of the company's stock worth $34,946,000 after buying an additional 11,171,063 shares during the last quarter. Millennium Management LLC increased its holdings in shares of AbCellera Biologics by 96.7% during the 4th quarter. Millennium Management LLC now owns 1,482,715 shares of the company's stock worth $4,344,000 after buying an additional 728,828 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of AbCellera Biologics by 28.6% during the 4th quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company's stock worth $9,544,000 after buying an additional 723,676 shares during the last quarter. Norges Bank acquired a new stake in shares of AbCellera Biologics during the 2nd quarter worth $2,164,000. Finally, Two Sigma Advisers LP increased its holdings in shares of AbCellera Biologics by 19.8% during the 4th quarter. Two Sigma Advisers LP now owns 2,608,400 shares of the company's stock worth $7,643,000 after buying an additional 430,800 shares during the last quarter. 61.42% of the stock is currently 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.