AbCellera Biologics Inc. (NASDAQ:ABCL) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• AbCellera Biologics has a “Moderate Buy” consensus rating from nine analysts, with five buys, one strong buy, two holds and one sell. The average 12-month price target is $13.38, ranging from recent targets of $11 to $17.
• Institutional investors and hedge funds own 61.42% of the company’s stock, with several firms recently initiating or increasing positions.
• The company’s latest quarterly results missed expectations, reporting an EPS loss of $0.18 versus a projected $0.16 loss and revenue of $4.05 million versus $7.85 million expected. Analysts forecast a full-year loss of $0.68 per share.

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.38.

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group started coverage on AbCellera Biologics in a research note on Thursday, September 24th. They issued a "neutral" rating and a $13.00 price objective for the company. Cantor Fitzgerald raised their target price on AbCellera Biologics from $11.00 to $12.00 and gave the company an "overweight" 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 report on Tuesday, July 7th. Wall Street Zen lowered shares of AbCellera Biologics from a "hold" rating to a "sell" rating in a research note on Saturday, September 26th. Finally, JPMorgan Chase & Co. initiated coverage on shares of AbCellera Biologics in a research report on Tuesday. They set an "overweight" rating and a $17.00 price target on the stock.

Hedge Funds Weigh In On AbCellera Biologics

Several institutional investors have recently modified their holdings of ABCL. AssuredPartners Investment Advisors LLC acquired a new stake in shares of AbCellera Biologics in the second quarter valued at $80,000. Tradition Wealth Management LLC increased its holdings in AbCellera Biologics by 30.4% during the 4th quarter. Tradition Wealth Management LLC now owns 47,110 shares of the company's stock worth $161,000 after purchasing an additional 10,972 shares during the period. Allworth Financial LP acquired a new stake in AbCellera Biologics in the 2nd quarter valued at about $91,000. HighTower Advisors LLC raised 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 purchasing an additional 12,000 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of AbCellera Biologics in the 1st quarter valued at about $46,000. Institutional investors and hedge funds own 61.42% of the company's stock.

AbCellera Biologics Stock Performance

NASDAQ:ABCL opened at $14.59 on Thursday. AbCellera Biologics has a fifty-two week low of $2.74 and a fifty-two week high of $15.02. The company has a 50 day moving average price of $10.32 and a 200 day moving average price of $6.90. The stock has a market capitalization of $4.47 billion, a P/E ratio of -27.02 and a beta of 1.32.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share (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. Research analysts forecast that AbCellera Biologics will post -0.68 earnings per share for the current fiscal year.

AbCellera Biologics Company Profile

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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