AbCellera Biologics (NASDAQ:ABCL) Trading 8% Higher - Still a Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) shares rose 8% on Tuesday . The stock traded as high as $3.58 and last traded at $3.60. Approximately 1,770,122 shares traded hands during trading, a decline of 46% from the average daily volume of 3,255,710 shares. The stock had previously closed at $3.33.

Analyst Ratings Changes

ABCL has been the subject of several recent analyst reports. KeyCorp raised their target price on shares of AbCellera Biologics from $4.00 to $5.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Benchmark reissued a "hold" rating on shares of AbCellera Biologics in a report on Monday, March 3rd. Stifel Nicolaus cut their price objective on AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Finally, Truist Financial decreased their target price on shares of AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, May 16th.

AbCellera Biologics Price Performance

The firm has a market cap of $1.08 billion, a PE ratio of -6.45 and a beta of 0.36. The business has a 50-day moving average price of $2.53 and a two-hundred day moving average price of $2.69.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate 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 company had revenue of $4.24 million during the quarter, compared to analysts' expectations of $7.12 million. Equities analysts expect that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC increased its stake in AbCellera Biologics by 333.1% during the fourth quarter. Squarepoint Ops LLC now owns 57,685 shares of the company's stock valued at $169,000 after purchasing an additional 44,367 shares during the last quarter. Millennium Management LLC boosted its stake in AbCellera Biologics by 96.7% in the fourth quarter. Millennium Management LLC now owns 1,482,715 shares of the company's stock valued at $4,344,000 after acquiring an additional 728,828 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of AbCellera Biologics in the 4th quarter worth approximately $40,000. HighTower Advisors LLC grew its stake in AbCellera Biologics by 577.9% during the 4th quarter. HighTower Advisors LLC now owns 71,086 shares of the company's stock worth $208,000 after buying an additional 60,600 shares during the last quarter. Finally, Guardian Partners Inc. acquired a new stake in AbCellera Biologics in the fourth quarter worth $5,413,000. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

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.