AbCellera Biologics Inc. (NASDAQ:ABCL) Stock Has Consensus Target Price of $13.89

Key Points

• AbCellera Biologics has a “Moderate Buy” consensus rating from 10 analysts, with an average 12-month price target of $13.89. Ratings include five buys, two strong buys, two holds, and one sell.
• Recent analyst targets range from $12 to $18, including an overweight rating from JPMorgan with a $17 target and a buy rating from UBS with an $18 target.
• AbCellera reported quarterly revenue of $4.05 million, below the $7.85 million analyst estimate, and an adjusted loss of $0.18 per share versus expectations of a $0.16 loss. Institutional investors own 61.42% of the company.

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $13.89.

Several analysts have weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of AbCellera Biologics in a research note on Tuesday, September 29th. They set an "overweight" rating and a $17.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of AbCellera Biologics in a research note on Thursday, October 15th. Wall Street Zen cut shares of AbCellera Biologics from a "hold" rating to a "sell" rating in a report on Saturday, September 26th. Cantor Fitzgerald raised their target price 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. Finally, UBS Group began coverage on AbCellera Biologics in a research note on Monday, October 12th. They issued a "buy" rating and a $18.00 target price for the company.

Institutional Trading of AbCellera Biologics

Several hedge funds have recently made changes to their positions in the stock. Green Alpha Advisors LLC raised its position in shares of AbCellera Biologics by 4.6% during the third quarter. Green Alpha Advisors LLC now owns 22,930 shares of the company's stock valued at $335,000 after buying an additional 1,014 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in AbCellera Biologics by 13.7% in the 3rd quarter. SBI Securities Co. Ltd. now owns 14,272 shares of the company's stock valued at $208,000 after acquiring an additional 1,721 shares in the last quarter. AssuredPartners Investment Advisors LLC acquired a new position in AbCellera Biologics in the 2nd quarter valued at approximately $80,000. Allworth Financial LP acquired a new position in AbCellera Biologics in the 2nd quarter valued at approximately $91,000. Finally, HighTower Advisors LLC lifted its position in shares of AbCellera Biologics by 12.5% in the 2nd quarter. HighTower Advisors LLC now owns 107,933 shares of the company's stock worth $847,000 after acquiring an additional 12,000 shares during the period. Institutional investors own 61.42% of the company's stock.

AbCellera Biologics Price Performance

NASDAQ:ABCL opened at $11.82 on Monday. The firm has a 50-day moving average of $12.16 and a two-hundred day moving average of $7.99. The stock has a market cap of $3.62 billion, a P/E ratio of -21.89 and a beta of 1.41. AbCellera Biologics has a 1-year low of $2.74 and a 1-year high of $15.02.

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 business had revenue of $4.05 million during the quarter, compared to analyst estimates of $7.85 million. As a group, equities analysts expect that AbCellera Biologics will post -0.69 earnings per share for the current year.

About AbCellera Biologics

AbCellera Biologics Inc is a biotechnology company headquartered in Vancouver, British Columbia, that develops antibody-based medicines and provides antibody discovery services to pharmaceutical and biotechnology companies. Its platform is designed to identify therapeutic antibodies from immune cells and accelerate their progression from discovery through development.

The company combines high-throughput screening, microfluidics, single-cell analysis, automation, and artificial intelligence to evaluate large numbers of antibody candidates.

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