UBS Group Initiates Coverage on AbCellera Biologics (NASDAQ:ABCL)

Key Points

• UBS Group initiated coverage of AbCellera Biologics with a Buy rating and an $18 price target, implying 43.43% upside from the stock’s previous close.
• Analyst sentiment is generally positive: AbCellera has a consensus “Moderate Buy” rating and an average target price of $13.89, though ratings range from Strong Buy to Sell.
• AbCellera recently missed quarterly expectations, reporting a $0.18 per-share loss and $4.05 million in revenue versus estimates of $0.16 and $7.85 million, respectively; institutional investors own 61.42% of the stock.

Research analysts at UBS Group assumed coverage on shares of AbCellera Biologics (NASDAQ:ABCL - Get Free Report) in a report released on Monday, Briefing.com reports. The brokerage set a "buy" rating and a $18.00 price target on the stock. UBS Group's price target indicates a potential upside of 43.43% from the company's previous close.

A number of other research firms have also weighed in on ABCL. The Goldman Sachs Group began coverage on shares of AbCellera Biologics in a research note on Thursday, September 24th. They issued a "neutral" rating and a $13.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of AbCellera Biologics in a research report on Friday, July 17th. JPMorgan Chase & Co. started coverage on shares of AbCellera Biologics in a report on Tuesday, September 29th. They issued an "overweight" rating and a $17.00 price target on the stock. Benchmark raised AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a research report on Tuesday, July 7th. Finally, Wall Street Zen downgraded AbCellera Biologics from a "hold" rating to a "sell" rating in a research report on Saturday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $13.89.

AbCellera Biologics Price Performance

Shares of NASDAQ ABCL opened at $12.55 on Monday. The business's 50 day moving average price is $11.39 and its 200 day moving average price is $7.37. The firm has a market cap of $3.85 billion, a P/E ratio of -23.24 and a beta of 1.41. AbCellera Biologics has a 52 week low of $2.74 and a 52 week high of $15.02.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its quarterly 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). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. The business had revenue of $4.05 million during the quarter, compared to analyst estimates of $7.85 million. As a group, research analysts expect that AbCellera Biologics will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Several institutional investors have recently made changes to their positions in the company. Green Alpha Advisors LLC raised its position in shares of AbCellera Biologics by 4.6% in the third quarter. Green Alpha Advisors LLC now owns 22,930 shares of the company's stock worth $335,000 after acquiring an additional 1,014 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of AbCellera Biologics during the 2nd quarter worth about $442,000. NewEdge Advisors LLC grew its position in shares of AbCellera Biologics by 4,850.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,852 shares of the company's stock valued at $117,000 after acquiring an additional 14,552 shares during the period. HighTower Advisors LLC grew its position in shares of AbCellera Biologics by 12.5% during 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 during the period. Finally, XML Financial LLC grew its position in shares of AbCellera Biologics by 35.7% during the 2nd quarter. XML Financial LLC now owns 57,025 shares of the company's stock valued at $448,000 after acquiring an additional 15,000 shares during the period. 61.42% of the stock is owned by hedge funds and other institutional investors.

About AbCellera Biologics

AbCellera Biologics Inc is a biotechnology company that develops technologies for the discovery and development of antibody medicines. Its platform combines high-throughput screening, single-cell analysis, microfluidics, data science and machine learning to identify antibodies with potential therapeutic applications.

The company works with pharmaceutical and biotechnology partners worldwide, helping them discover and advance antibody candidates for areas such as cancer, infectious diseases, autoimmune disorders and other medical conditions.

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