AbCellera Biologics (NASDAQ:ABCL) Trading Up 9.9% - What's Next?

Key Points

• AbCellera Biologics (NASDAQ:ABCL) experienced a 9.9% increase in stock price on Wednesday, closing at $6.18 with approximately 3.98 million shares traded.
• Equities analysts have mixed opinions on AbCellera Biologics, with ratings ranging from a Strong Buy to a Sell, and a consensus price target set at $8.00.
• The company's recent quarterly earnings surpassed estimates, reporting $17.08 million in revenue, exceeding the expected $7.55 million, and a loss per share of ($0.12).

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) was up 9.9% on Wednesday . The company traded as high as $6.12 and last traded at $6.18. Approximately 3,980,740 shares were traded during trading, a decline of 22% from the average daily volume of 5,106,783 shares. The stock had previously closed at $5.62.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ABCL shares. Stifel Nicolaus lowered their price target on AbCellera Biologics from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. KeyCorp boosted their price target on AbCellera Biologics from $5.00 to $10.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. Wall Street Zen raised AbCellera Biologics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Leerink Partnrs raised AbCellera Biologics to a "strong-buy" rating in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $8.00.

AbCellera Biologics Price Performance

The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -11.09 and a beta of 0.69. The stock has a 50-day moving average of $4.72 and a 200-day moving average of $3.59.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.05. The business had revenue of $17.08 million for the quarter, compared to the consensus estimate of $7.55 million. AbCellera Biologics had a negative return on equity of 16.17% and a negative net margin of 511.88%. On average, equities analysts expect that AbCellera Biologics Inc. will post -0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABCL. Stratos Wealth Advisors LLC bought a new stake in AbCellera Biologics during the first quarter worth $27,000. Janney Montgomery Scott LLC bought a new stake in AbCellera Biologics during the first quarter worth $29,000. AssuredPartners Investment Advisors LLC bought a new stake in AbCellera Biologics during the first quarter worth $34,000. Caitong International Asset Management Co. Ltd bought a new stake in AbCellera Biologics during the second quarter worth $35,000. Finally, J2 Capital Management Inc bought a new stake in AbCellera Biologics during the second quarter worth $45,000. 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.

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