The Goldman Sachs Group Reaffirms "Neutral" Rating for AbCellera Biologics (NASDAQ:ABCL)

Key Points

• Goldman Sachs reaffirmed its “Neutral” rating on AbCellera Biologics and maintained a $13 price target, implying 5.61% upside from the prior close.
• Analyst sentiment is broadly positive: AbCellera has a consensus “Moderate Buy” rating and an average price target of $12.86, though recommendations range from Sell to Strong Buy.
• The company’s latest results fell short of expectations, reporting a $0.18 quarterly loss per share versus a projected $0.16 loss and revenue of $4.05 million versus $7.85 million expected.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report)'s stock had its "neutral" rating restated by analysts at The Goldman Sachs Group in a research note issued to investors on Thursday, Benzinga reports. They currently have a $13.00 target price on the stock. The Goldman Sachs Group's target price suggests a potential upside of 5.61% from the company's previous close.

Several other research firms have also commented on ABCL. Truist Financial raised their target price on AbCellera Biologics from $12.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Cantor Fitzgerald lifted their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Benchmark upgraded AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a research note on Tuesday, July 7th. Wall Street Zen upgraded AbCellera Biologics from a "sell" rating to a "hold" rating in a research report on Saturday, September 5th. Finally, Stifel Nicolaus boosted their price target on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.86.

AbCellera Biologics Trading Down 2.7%

NASDAQ:ABCL opened at $12.31 on Thursday. The firm has a fifty day simple moving average of $9.55 and a 200-day simple moving average of $6.54. AbCellera Biologics has a 12 month low of $2.74 and a 12 month high of $13.18. The company has a market capitalization of $3.77 billion, a P/E ratio of -22.80 and a beta of 1.32.

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

Hedge Funds Weigh In On AbCellera Biologics

Several large investors have recently made changes to their positions in ABCL. WINTON GROUP Ltd purchased a new position in shares of AbCellera Biologics during the second quarter worth $442,000. NewEdge Advisors LLC lifted its stake in AbCellera Biologics by 4,850.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,852 shares of the company's stock worth $117,000 after acquiring an additional 14,552 shares in the last quarter. HighTower Advisors LLC grew its position in AbCellera Biologics by 12.5% in the 2nd quarter. HighTower Advisors LLC now owns 107,933 shares of the company's stock valued at $847,000 after acquiring an additional 12,000 shares in the last quarter. XML Financial LLC boosted its stake in shares of AbCellera Biologics by 35.7% in the second quarter. XML Financial LLC now owns 57,025 shares of the company's stock valued at $448,000 after purchasing an additional 15,000 shares during the period. Finally, Headlands Technologies LLC lifted its holdings in AbCellera Biologics by 34.8% during the 2nd quarter. Headlands Technologies LLC now owns 246,252 shares of the company's stock worth $1,933,000 after buying an additional 63,596 shares in the last quarter. 61.42% of the stock is currently owned by institutional investors and hedge funds.

About AbCellera Biologics

AbCellera Biologics Inc is a biotechnology company that develops antibody-based medicines in partnership with pharmaceutical and biotechnology companies. Its technology platform combines artificial intelligence, machine learning, high-throughput screening, single-cell analysis and other laboratory techniques to identify and evaluate antibody candidates.

The company provides integrated antibody discovery and development services, helping partners move from biological targets and immune-cell samples to optimized therapeutic antibody candidates.

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