AbCellera Biologics Inc. (NASDAQ:ABCL) Receives $15.86 Consensus Target Price from Analysts

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) have been assigned a consensus rating of "Buy" from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $15.86.

ABCL has been the topic of a number of research analyst reports. Stifel Nicolaus cut their price objective on shares of AbCellera Biologics from $21.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, February 21st. Benchmark raised shares of AbCellera Biologics from a "hold" rating to a "buy" rating and set a $9.00 price objective on the stock in a research report on Thursday, February 22nd.

Hedge Funds Weigh In On AbCellera Biologics

Several large investors have recently added to or reduced their stakes in the business. ArrowMark Colorado Holdings LLC bought a new position in shares of AbCellera Biologics during the 2nd quarter worth approximately $26,519,000. State Street Corp increased its stake in shares of AbCellera Biologics by 1,087.3% during the 2nd quarter. State Street Corp now owns 3,194,309 shares of the company's stock worth $34,019,000 after purchasing an additional 2,925,279 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of AbCellera Biologics by 997.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,189,837 shares of the company's stock worth $31,100,000 after purchasing an additional 2,899,091 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of AbCellera Biologics by 385.5% during the 1st quarter. Renaissance Technologies LLC now owns 2,617,603 shares of the company's stock worth $25,522,000 after purchasing an additional 2,078,400 shares during the last quarter. Finally, FIL Ltd purchased a new stake in shares of AbCellera Biologics during the 4th quarter worth approximately $10,711,000. Institutional investors own 61.42% of the company's stock.

AbCellera Biologics Price Performance

Shares of ABCL stock traded down $0.06 on Friday, reaching $4.34. 768,943 shares of the company were exchanged, compared to its average volume of 1,031,787. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -8.35 and a beta of 0.36. The company has a 50-day moving average of $4.88 and a 200-day moving average of $4.86. AbCellera Biologics has a one year low of $3.87 and a one year high of $8.05.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.03). The company had revenue of $9.18 million for the quarter, compared to the consensus estimate of $9.58 million. AbCellera Biologics had a negative return on equity of 12.36% and a negative net margin of 384.99%. As a group, sell-side analysts predict that AbCellera Biologics will post -0.65 EPS for the current year.

AbCellera Biologics Company Profile

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.