JonesTrading Begins Coverage on AbCellera Biologics (NASDAQ:ABCL)

Key Points

• JonesTrading initiated coverage with a Buy rating and an $11.00 price target, implying roughly a 220% upside from the stock's prior close.
• AbCellera reported Q results that beat estimates—EPS of ($0.03) vs. ($0.18) expected and revenue of $44.85M vs. $6.31M expected—but remains unprofitable with a negative net margin (~198%) and negative ROE.
• Analysts are mixed but leaning positive (four Buys, one Hold, one Sell) for an average "Moderate Buy" and an average price target of $8.40, while the shares trade around $3.44 with a market cap of about $1.04 billion.

JonesTrading assumed coverage on shares of AbCellera Biologics (NASDAQ:ABCL - Get Free Report) in a research note issued on Friday,Benzinga reports. The brokerage set a "buy" rating and a $11.00 price target on the stock. JonesTrading's price objective points to a potential upside of 219.77% from the stock's previous close.

Several other equities analysts have also commented on the stock. Wall Street Zen upgraded shares of AbCellera Biologics from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of AbCellera Biologics in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $8.40.

AbCellera Biologics Price Performance

Shares of NASDAQ ABCL opened at $3.44 on Friday. The firm has a fifty day moving average price of $3.38 and a 200-day moving average price of $4.04. The stock has a market cap of $1.04 billion, a PE ratio of -7.02 and a beta of 0.85. AbCellera Biologics has a 1 year low of $1.94 and a 1 year high of $6.51.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.15. AbCellera Biologics had a negative net margin of 198.37% and a negative return on equity of 15.05%. The firm had revenue of $44.85 million during the quarter, compared to analyst estimates of $6.31 million. On average, research analysts expect that AbCellera Biologics will post -0.59 EPS for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning raised its stake in shares of AbCellera Biologics by 6.9% in the second quarter. Creative Planning now owns 41,003 shares of the company's stock valued at $141,000 after acquiring an additional 2,656 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of AbCellera Biologics by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,546 shares of the company's stock valued at $50,000 after acquiring an additional 2,993 shares during the period. Advisory Services Network LLC increased its stake in AbCellera Biologics by 12.9% in the 4th quarter. Advisory Services Network LLC now owns 29,664 shares of the company's stock worth $101,000 after buying an additional 3,386 shares during the period. Stratos Wealth Advisors LLC increased its stake in AbCellera Biologics by 21.1% in the 4th quarter. Stratos Wealth Advisors LLC now owns 23,000 shares of the company's stock worth $79,000 after buying an additional 4,000 shares during the period. Finally, Raymond James Financial Inc. increased its stake in AbCellera Biologics by 17.0% in the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company's stock worth $96,000 after buying an additional 4,070 shares during the period. Hedge funds and other institutional investors own 61.42% of the company's stock.

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.

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