AbCellera Biologics (NASDAQ:ABCL) Upgraded to "Strong-Buy" at JonesTrading

Key Points

• JonesTrading upgraded AbCellera (NASDAQ:ABCL) to a "strong-buy", while the stock's consensus remains a Moderate Buy with an average price target of $8.40.
• AbCellera's latest quarter beat estimates sharply — EPS of ($0.03) vs. ($0.18) expected and revenue of $44.85M vs. $6.31M expected — though the company still reports a negative net margin and negative return on equity.
• Institutional interest has grown materially, with large stakes and increases from firms like Goldman Sachs and UBS and about 61.42% of the stock owned by institutions and hedge funds.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) was upgraded by research analysts at JonesTrading to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other brokerages have also issued reports on ABCL. Wall Street Zen raised shares of AbCellera Biologics from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AbCellera Biologics in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $8.40.

AbCellera Biologics Stock Up 2.9%

Shares of NASDAQ:ABCL opened at $3.54 on Thursday. AbCellera Biologics has a 12 month low of $1.94 and a 12 month high of $6.51. The company's 50-day moving average price is $3.37 and its two-hundred day moving average price is $4.03. The firm has a market cap of $1.07 billion, a P/E ratio of -7.22 and a beta of 0.85.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.15. The firm had revenue of $44.85 million for the quarter, compared to analyst estimates of $6.31 million. AbCellera Biologics had a negative net margin of 198.37% and a negative return on equity of 15.05%. As a group, equities analysts predict that AbCellera Biologics will post -0.59 earnings per share for the current fiscal year.

Institutional Trading of AbCellera Biologics

A number of hedge funds have recently modified their holdings of ABCL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of AbCellera Biologics in the 4th quarter valued at approximately $26,938,000. Goldman Sachs Group Inc. raised its position in shares of AbCellera Biologics by 1,636.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company's stock valued at $14,858,000 after acquiring an additional 4,094,268 shares during the period. Bank of America Corp DE raised its position in shares of AbCellera Biologics by 977.8% in the 3rd quarter. Bank of America Corp DE now owns 2,418,304 shares of the company's stock valued at $12,164,000 after acquiring an additional 2,193,939 shares during the period. Tudor Investment Corp ET AL raised its position in shares of AbCellera Biologics by 146.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company's stock valued at $6,142,000 after acquiring an additional 1,065,888 shares during the period. Finally, Two Sigma Investments LP raised its position in shares of AbCellera Biologics by 25.9% in the 3rd quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company's stock valued at $26,031,000 after acquiring an additional 1,064,290 shares during the period. 61.42% of the stock is currently owned by institutional investors and hedge funds.

About AbCellera Biologics

AbCellera Biologics Inc NASDAQ: ABCL is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company's technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.

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