AbCellera Biologics (NASDAQ:ABCL) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded AbCellera Biologics from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $12.83.
• AbCellera reported a quarterly loss of $0.18 per share, missing estimates by $0.02, while revenue of $4.05 million fell well short of the $7.85 million consensus forecast.
• ABCL opened at $11.43, near its 52-week high of $12.58, and hedge funds and other institutional investors own approximately 61.42% of the company.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald lifted their price target on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Stifel Nicolaus upped their price objective on shares of AbCellera Biologics from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Benchmark raised shares of AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 target price for the company in a research note on Tuesday, July 7th. Finally, Truist Financial boosted their price target on AbCellera Biologics from $12.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $12.83.

AbCellera Biologics Stock Down 1.2%

ABCL opened at $11.43 on Friday. The firm has a market cap of $3.50 billion, a P/E ratio of -21.17 and a beta of 1.32. AbCellera Biologics has a 52 week low of $2.74 and a 52 week high of $12.58. The business's fifty day simple moving average is $8.43 and its 200 day simple moving average is $5.76.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The firm had revenue of $4.05 million during the quarter, compared to analyst estimates of $7.85 million. AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. As a group, equities analysts expect that AbCellera Biologics will post -0.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Engineers Gate Manager LP acquired a new stake in shares of AbCellera Biologics in the fourth quarter worth approximately $38,000. Allworth Financial LP increased its position in AbCellera Biologics by 857.0% during the fourth quarter. Allworth Financial LP now owns 11,274 shares of the company's stock worth $39,000 after purchasing an additional 10,096 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in AbCellera Biologics during the first quarter worth approximately $46,000. Magnetar Financial LLC purchased a new position in AbCellera Biologics during the fourth quarter worth approximately $49,000. Finally, Oxford Asset Management LLP purchased a new position in AbCellera Biologics during the fourth quarter worth approximately $51,000. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

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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