AbCellera Biologics (NASDAQ:ABCL) Shares Up 7.9% - Still a Buy?

Key Points

• AbCellera Biologics' shares rose by 7.9%, reaching a last traded price of $4.59, amidst lower trading volume compared to averages.
• Analysts have mixed opinions, with KeyCorp increasing the price target to $10.00 while Stifel Nicolaus lowered it to $7.00, resulting in a consensus target price of $8.00.
• The company reported earnings per share of ($0.12), beating estimates and revealing revenues of $17.08 million for the quarter, significantly above analyst forecasts.

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) shares traded up 7.9% on Monday . The company traded as high as $4.56 and last traded at $4.59. 1,748,573 shares were traded during mid-day trading, a decline of 65% from the average session volume of 5,050,125 shares. The stock had previously closed at $4.25.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ABCL shares. KeyCorp boosted their price target on shares of AbCellera Biologics from $5.00 to $10.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Leerink Partners began coverage on AbCellera Biologics in a research note on Monday, July 7th. They issued an "outperform" rating and a $5.00 target price for the company. Truist Financial reduced their price target on AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Stifel Nicolaus dropped their price objective on AbCellera Biologics from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Leerink Partnrs raised shares of AbCellera Biologics to a "strong-buy" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $8.00.

AbCellera Biologics Stock Up 2.0%

The firm has a market cap of $1.37 billion, a P/E ratio of -8.35 and a beta of 0.65. The firm's fifty day moving average is $4.02 and its two-hundred day moving average is $3.01.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.05. The company had revenue of $17.08 million during the quarter, compared to the consensus estimate 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 year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ABCL. Raymond James Financial Inc. bought a new position in AbCellera Biologics in the fourth quarter worth $57,000. Barclays PLC grew its position in shares of AbCellera Biologics by 72.0% in the 4th quarter. Barclays PLC now owns 38,351 shares of the company's stock worth $112,000 after buying an additional 16,058 shares during the period. Mariner LLC bought a new position in shares of AbCellera Biologics in the 4th quarter worth about $42,000. XTX Topco Ltd purchased a new position in AbCellera Biologics during the 4th quarter valued at about $269,000. Finally, PEAK6 LLC bought a new stake in AbCellera Biologics during the fourth quarter worth about $586,000. 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.