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

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.

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

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.