AbCellera Biologics (NASDAQ:ABCL) Trading Up 6.2% - Should You Buy?

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) rose 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 trading, a decline of 82% from the average daily volume of 3,193,231 shares. The stock had previously closed at $3.12.

Analyst Ratings Changes

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

AbCellera Biologics Stock Performance

The company's 50-day moving average price is $2.36 and its 200 day moving average price is $2.66. The stock has a market capitalization of $1.03 billion, a PE ratio of -6.12 and a beta of 0.36.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.02. The company had revenue of $4.24 million for the quarter, compared to the consensus estimate of $7.12 million. AbCellera Biologics had a negative net margin of 737.56% and a negative return on equity of 15.98%. Analysts expect that AbCellera Biologics Inc. will post -0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. DKM Wealth Management Inc. purchased a new stake in shares of AbCellera Biologics in the 4th quarter valued at $29,000. Stratos Wealth Advisors LLC acquired a new position in shares of AbCellera Biologics in the 1st quarter valued at $27,000. State of New Jersey Common Pension Fund D acquired a new stake in AbCellera Biologics in the 4th quarter valued at approximately $36,000. Janney Montgomery Scott LLC acquired a new stake in shares of AbCellera Biologics during the first quarter worth about $29,000. Finally, Balyasny Asset Management L.P. purchased a new position in AbCellera Biologics in the fourth quarter valued at $40,000. 61.42% of the stock is owned by institutional investors and hedge funds.

About AbCellera Biologics

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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