AbCellera Biologics (NASDAQ:ABCL) Hits New 12-Month High - Time to Buy?

Key Points

• AbCellera shares surged 9.1% to $12.73 after reaching a new 52-week high of $13.18, giving the company a market capitalization of approximately $3.90 billion.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $12.83; Truist Financial recently raised its target to $30.
• The company remains unprofitable and reported weaker-than-expected quarterly results, posting a $0.18 per-share loss and $4.05 million in revenue versus the $7.85 million estimate. Institutional investors own about 61.4% of the stock.

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $13.18 and last traded at $12.73, with a volume of 8027661 shares. The stock had previously closed at $11.67.

Wall Street Analysts Forecast Growth

ABCL has been the subject of a number of research reports. 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 note on Tuesday, August 11th. Weiss Ratings restated a "sell (d-)" rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Benchmark raised AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 target price for the company in a report on Tuesday, July 7th. Stifel Nicolaus increased 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. Finally, Wall Street Zen raised AbCellera Biologics from a "sell" rating to a "hold" rating in a research note on Saturday, September 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.83.

AbCellera Biologics Trading Up 9.1%

The company's 50-day simple moving average is $9.08 and its 200-day simple moving average is $6.29. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of -23.57 and a beta of 1.32.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02). The business 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%. On average, equities research analysts expect that AbCellera Biologics Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd acquired a new stake in shares of AbCellera Biologics in the second quarter valued at about $442,000. NewEdge Advisors LLC lifted its stake in shares of AbCellera Biologics by 4,850.7% in the second quarter. NewEdge Advisors LLC now owns 14,852 shares of the company's stock worth $117,000 after acquiring an additional 14,552 shares during the period. HighTower Advisors LLC lifted its stake in shares of AbCellera Biologics by 12.5% in the second 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. XML Financial LLC boosted its holdings in AbCellera Biologics by 35.7% in the second quarter. XML Financial LLC now owns 57,025 shares of the company's stock valued at $448,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Headlands Technologies LLC boosted its holdings in AbCellera Biologics by 34.8% in the second quarter. Headlands Technologies LLC now owns 246,252 shares of the company's stock valued at $1,933,000 after acquiring an additional 63,596 shares during the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.

About AbCellera Biologics

AbCellera Biologics Inc is a biotechnology company that develops antibody-based medicines in partnership with pharmaceutical and biotechnology companies. Its technology platform combines artificial intelligence, machine learning, high-throughput screening, single-cell analysis and other laboratory techniques to identify and evaluate antibody candidates.

The company provides integrated antibody discovery and development services, helping partners move from biological targets and immune-cell samples to optimized therapeutic antibody candidates.

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