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

Key Points

• AbCellera shares reached a new 52-week high of $13.32 and recently traded near $13.18, well above their 50-day and 200-day moving averages.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $12.86; however, that target is below the current share price and ratings range from Strong Buy to Sell.
• The company reported a quarterly EPS loss of $0.18 versus expectations of a $0.16 loss and revenue of $4.05 million versus the $7.85 million estimate, while maintaining deeply negative profitability metrics.

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report) shares hit a new 52-week high during trading on Monday. The stock traded as high as $13.32 and last traded at $13.1750, with a volume of 2228977 shares traded. The stock had previously closed at $12.70.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ABCL shares. Stifel Nicolaus boosted their target price on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Benchmark raised AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a research note on Tuesday, July 7th. Truist Financial raised their price target on AbCellera Biologics from $12.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of AbCellera Biologics in a report on Friday, July 17th. Finally, Cantor Fitzgerald increased their target price on AbCellera Biologics from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.86.

AbCellera Biologics Stock Performance

The stock has a fifty day simple moving average of $9.80 and a 200-day simple moving average of $6.67. The stock has a market cap of $4.32 billion, a P/E ratio of -26.10 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The business had revenue of $4.05 million during the quarter, compared to analyst estimates of $7.85 million. AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. On average, research analysts anticipate that AbCellera Biologics Inc. will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in shares of AbCellera Biologics in the second quarter valued at approximately $48,211,000. BlackRock Inc. bought a new position in shares of AbCellera Biologics during the second quarter valued at $29,872,000. Royal Bank of Canada raised its position in shares of AbCellera Biologics by 5.6% during the first quarter. Royal Bank of Canada now owns 394,753 shares of the company's stock worth $1,378,000 after acquiring an additional 20,897 shares during the last quarter. SEB Asset Management AB acquired a new position in AbCellera Biologics in the first quarter valued at $1,188,000. Finally, Headlands Technologies LLC grew its stake in AbCellera Biologics by 34.8% during the second quarter. Headlands Technologies LLC now owns 246,252 shares of the company's stock worth $1,933,000 after purchasing an additional 63,596 shares during the period. Institutional investors own 61.42% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.