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

AbCellera Biologics logo with Medical background

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) traded up 6.2% on Monday . The stock traded as high as $4.03 and last traded at $4.04. 3,237,352 shares traded hands during trading, a decline of 5% from the average session volume of 3,423,144 shares. The stock had previously closed at $3.80.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. 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. Leerink Partners assumed coverage on AbCellera Biologics in a report on Monday. They set an "outperform" rating and a $5.00 price target on the stock. Truist Financial cut their price target on AbCellera Biologics from $28.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, Leerink Partnrs upgraded AbCellera Biologics to a "strong-buy" rating in a report on Monday. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $7.50.

Get Our Latest Report on ABCL

AbCellera Biologics Stock Performance

The company has a 50-day moving average price of $2.72 and a 200-day moving average price of $2.74. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -6.95 and a beta of 0.62.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.02. The firm had revenue of $4.24 million during the quarter, compared to analysts' expectations of $7.12 million. AbCellera Biologics had a negative return on equity of 15.98% and a negative net margin of 737.56%. On average, research 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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DKM Wealth Management Inc. acquired a new position in shares of AbCellera Biologics during the 4th quarter worth $29,000. Stratos Wealth Advisors LLC acquired a new position in shares of AbCellera Biologics during the 1st quarter worth $27,000. Janney Montgomery Scott LLC acquired a new position in shares of AbCellera Biologics during the 1st quarter worth $29,000. Balyasny Asset Management L.P. acquired a new position in shares of AbCellera Biologics during the 4th quarter worth $40,000. Finally, Mariner LLC acquired a new position in shares of AbCellera Biologics during the 4th quarter worth $42,000. 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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