AbCellera Biologics (NASDAQ:ABCL) Hits New 12-Month High - Still a Buy?

Key Points

• AbCellera shares surged 17.8% to $12.50, reaching a new 52-week high and giving the company a market capitalization of approximately $3.83 billion.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a “Moderate Buy” consensus with an average price target of $12.83, although ratings range from Strong Buy to Sell.
• The company remains unprofitable and recently missed quarterly expectations, reporting a $0.18 per-share loss versus a $0.16 consensus loss and revenue of $4.05 million versus $7.85 million expected.

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $12.50 and last traded at $12.50, with a volume of 10658068 shares trading hands. The stock had previously closed at $10.61.

Wall Street Analyst Weigh In

ABCL has been the subject of a number of recent research reports. Benchmark upgraded shares of AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 price objective for the company in a research note on Tuesday, July 7th. Stifel Nicolaus lifted their target price on AbCellera Biologics from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen lowered AbCellera Biologics from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Truist Financial increased their price target on AbCellera Biologics from $12.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of AbCellera Biologics in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, AbCellera Biologics currently has an average rating of "Moderate Buy" and an average target price of $12.83.

AbCellera Biologics Stock Up 17.8%

The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -23.15 and a beta of 1.20. The company's fifty day simple moving average is $7.53 and its 200 day simple moving average is $5.29.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted 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). The company had revenue of $4.05 million for the quarter, compared to analyst estimates of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. As a group, analysts anticipate that AbCellera Biologics Inc. will post -0.68 earnings per share for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Several institutional investors and hedge funds have recently made changes to their positions in ABCL. Creative Planning grew its holdings in AbCellera Biologics by 6.9% in the 2nd quarter. Creative Planning now owns 41,003 shares of the company's stock worth $141,000 after acquiring an additional 2,656 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of AbCellera Biologics by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,546 shares of the company's stock worth $50,000 after purchasing an additional 2,993 shares during the period. Advisory Services Network LLC grew its stake in shares of AbCellera Biologics by 12.9% in the fourth quarter. Advisory Services Network LLC now owns 29,664 shares of the company's stock worth $101,000 after purchasing an additional 3,386 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of AbCellera Biologics by 17.0% in the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company's stock worth $96,000 after purchasing an additional 4,070 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of AbCellera Biologics by 1.2% in the fourth quarter. Osaic Holdings Inc. now owns 347,321 shares of the company's stock worth $1,188,000 after purchasing an additional 4,246 shares during the last quarter. Institutional investors and hedge funds 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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