AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report)'s stock price was up 6.2% during mid-day trading on Wednesday . The stock traded as high as $3.19 and last traded at $3.31. Approximately 578,030 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 3,193,231 shares. The stock had previously closed at $3.12.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. Stifel Nicolaus dropped their price target on AbCellera Biologics from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Truist Financial cut their price target on AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating for the company in a report on Friday, May 16th. Benchmark reiterated a "hold" rating on shares of AbCellera Biologics in a report on Monday, March 3rd. Finally, KeyCorp upped their price target on AbCellera Biologics from $4.00 to $5.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th.
Read Our Latest Report on ABCL
AbCellera Biologics Stock Down 1.7%
The business has a 50-day moving average price of $2.43 and a 200-day moving average price of $2.67. The firm has a market capitalization of $1.02 billion, a P/E ratio of -6.09 and a beta of 0.36.
AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.02. AbCellera Biologics had a negative net margin of 737.56% and a negative return on equity of 15.98%. The firm had revenue of $4.24 million for the quarter, compared to analyst estimates of $7.12 million. As a group, sell-side analysts forecast that AbCellera Biologics Inc. will post -0.59 EPS for the current year.
Hedge Funds Weigh In On AbCellera Biologics
Hedge funds and other institutional investors have recently modified their holdings of the stock. Stratos Wealth Advisors LLC bought a new position in shares of AbCellera Biologics during the 1st quarter worth approximately $27,000. DKM Wealth Management Inc. bought a new position in shares of AbCellera Biologics during the 4th quarter worth approximately $29,000. Janney Montgomery Scott LLC bought a new position in shares of AbCellera Biologics during the 1st quarter worth approximately $29,000. AssuredPartners Investment Advisors LLC bought a new position in shares of AbCellera Biologics during the 1st quarter worth approximately $34,000. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of AbCellera Biologics during the 4th quarter worth approximately $36,000. Institutional investors 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.
Featured Articles
Before you consider AbCellera Biologics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbCellera Biologics wasn't on the list.
While AbCellera Biologics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
