AbCellera Biologics Inc. (NASDAQ:ABCL) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• AbCellera Biologics has a “Moderate Buy” consensus rating from seven analysts, with four buys, one strong buy, one hold and one sell. The average 12-month price target is $12.83, though individual targets range as high as $30.
• The company’s latest quarterly results fell short of expectations, reporting an adjusted loss of $0.18 per share versus the estimated $0.16 loss and revenue of $4.05 million versus the $7.85 million consensus.
• ABCL opened at $11.43, near its 52-week high of $12.58, while institutional investors and hedge funds own approximately 61.42% of the stock.

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) has been given an average rating of "Moderate Buy" by the seven research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $12.8333.

A number of research firms have weighed in on ABCL. Cantor Fitzgerald upped their target price on AbCellera Biologics from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Stifel Nicolaus upped their price objective on AbCellera Biologics from $8.00 to $9.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Benchmark raised 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. Truist Financial boosted their price target on shares of AbCellera Biologics from $12.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of AbCellera Biologics from a "sell" rating to a "hold" rating in a report on Saturday.

AbCellera Biologics Trading Down 1.2%

AbCellera Biologics stock opened at $11.43 on Friday. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -21.17 and a beta of 1.32. The company's 50-day moving average price is $8.43 and its two-hundred day moving average price is $5.76. AbCellera Biologics has a 52 week low of $2.74 and a 52 week high of $12.58.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last released its quarterly 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). The company had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. Research analysts expect that AbCellera Biologics will post -0.68 earnings per share for the current fiscal year.

Institutional Trading of AbCellera Biologics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in AbCellera Biologics during the fourth quarter worth approximately $26,938,000. Bank of America Corp DE bought a new position in shares of AbCellera Biologics in the second quarter valued at $48,211,000. Two Sigma Investments LP lifted its position in shares of AbCellera Biologics by 25.9% during 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 last quarter. Goldman Sachs Group Inc. lifted its position in shares of AbCellera Biologics by 1,636.3% during 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 last quarter. Finally, BlackRock Inc. bought a new stake in shares of AbCellera Biologics during the 2nd quarter worth $29,872,000. 61.42% of the stock is owned by institutional investors and hedge funds.

AbCellera Biologics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source