AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) was up 10.6% during trading on Tuesday . The stock traded as high as $2.76 and last traded at $2.78. Approximately 1,724,165 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 4,092,888 shares. The stock had previously closed at $2.51.
Analyst Ratings Changes
ABCL has been the topic of a number of analyst reports. Benchmark reiterated a "hold" rating on shares of AbCellera Biologics in a research note on Monday, March 3rd. Stifel Nicolaus decreased their target price on shares of AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Truist Financial decreased their target price on shares of AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, KeyCorp raised their target price on shares of AbCellera Biologics from $4.00 to $5.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th.
View Our Latest Stock Analysis on AbCellera Biologics
AbCellera Biologics Stock Performance
The firm has a fifty day simple moving average of $2.31 and a 200-day simple moving average of $2.66. The firm has a market cap of $954.96 million, a price-to-earnings ratio of -5.25 and a beta of 0.36.
AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.02. The company had revenue of $4.24 million during the quarter, compared to the consensus estimate of $7.12 million. AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. Analysts expect that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of ABCL. DKM Wealth Management Inc. bought a new stake in shares of AbCellera Biologics during the fourth quarter worth about $29,000. Stratos Wealth Advisors LLC bought a new stake in shares of AbCellera Biologics during the first quarter worth about $27,000. State of New Jersey Common Pension Fund D bought a new stake in shares of AbCellera Biologics during the fourth quarter worth about $36,000. Janney Montgomery Scott LLC bought a new stake in shares of AbCellera Biologics during the first quarter worth about $29,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of AbCellera Biologics during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 61.42% of the company's stock.
About AbCellera Biologics
(
Get Free Report)
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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