AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) rose 5.1% during trading on Tuesday . The stock traded as high as $4.75 and last traded at $4.72. Approximately 978,711 shares traded hands during trading, a decline of 30% from the average daily volume of 1,394,745 shares. The stock had previously closed at $4.49.
Wall Street Analysts Forecast Growth
ABCL has been the topic of several research analyst reports. Stifel Nicolaus decreased their target price 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 target price for the company in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $15.86.
Check Out Our Latest Report on ABCL
AbCellera Biologics Stock Performance
The company has a 50 day moving average price of $4.86 and a 200 day moving average price of $4.85. The company has a market capitalization of $1.38 billion, a PE ratio of -9.08 and a beta of 0.36.
AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.17) 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 net margin of 384.99% and a negative return on equity of 12.36%. On average, equities analysts forecast that AbCellera Biologics Inc. will post -0.65 earnings per share for the current fiscal year.
Institutional Investors Weigh In On AbCellera Biologics
Institutional investors have recently modified their holdings of the stock. Worth Asset Management LLC acquired a new stake in AbCellera Biologics during the first quarter worth about $25,000. Point72 Asset Management L.P. bought a new stake in AbCellera Biologics during the second quarter worth approximately $26,000. Point72 Middle East FZE bought a new stake in AbCellera Biologics during the second quarter worth approximately $30,000. Pacifica Partners Inc. boosted its holdings in AbCellera Biologics by 82.9% during the fourth quarter. Pacifica Partners Inc. now owns 4,820 shares of the company's stock worth $28,000 after buying an additional 2,185 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its holdings in AbCellera Biologics by 55.7% during the first quarter. Belpointe Asset Management LLC now owns 5,300 shares of the company's stock worth $40,000 after buying an additional 1,896 shares in the last quarter. Institutional investors and hedge funds own 61.42% of the company's stock.
About AbCellera Biologics
(
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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.
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