AbCellera Biologics (NASDAQ:ABCL) Trading 10.6% Higher - Should You Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) shares were up 10.6% during mid-day 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.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. KeyCorp upped their target price on AbCellera Biologics from $4.00 to $5.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Stifel Nicolaus lowered their target price on AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating for the company in a report on Friday, February 28th. Truist Financial lowered their price target on AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, Benchmark restated a "hold" rating on shares of AbCellera Biologics in a research report on Monday, March 3rd.

AbCellera Biologics Stock Up 10.8%

The firm has a market capitalization of $998.83 million, a PE ratio of -5.49 and a beta of 0.36. The firm's fifty day simple moving average is $2.24 and its 200-day simple moving average is $2.65.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.02. AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. The business had revenue of $4.24 million for the quarter, compared to the consensus estimate of $7.12 million. As a group, analysts predict that AbCellera Biologics Inc. will post -0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Moloney Securities Asset Management LLC purchased a new stake in shares of AbCellera Biologics during the fourth quarter worth about $265,000. State of New Jersey Common Pension Fund D acquired a new position in AbCellera Biologics in the fourth quarter valued at approximately $36,000. Raymond James Financial Inc. acquired a new position in AbCellera Biologics in the fourth quarter valued at approximately $57,000. HighTower Advisors LLC boosted its position in AbCellera Biologics by 577.9% in the 4th quarter. HighTower Advisors LLC now owns 71,086 shares of the company's stock worth $208,000 after purchasing an additional 60,600 shares in the last quarter. Finally, IMG Wealth Management Inc. acquired a new position in AbCellera Biologics in the 4th quarter worth about $56,000. 61.42% of the stock is currently owned by 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.