AbCellera Biologics (NASDAQ:ABCL) Stock Jumps 4.6% - Should You Buy?

Key Points

• AbCellera shares rose 4.6% to about $14.56, reaching an intraday high of $14.90, while trading volume remained below the stock’s average.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $13.38; JPMorgan recently initiated coverage with an Overweight rating and a $17 target.
• The company’s fundamentals remain challenging: its latest quarterly loss exceeded expectations, revenue fell short of estimates, and analysts expect a full-year loss of $0.68 per share. Institutional investors own 61.42% of the stock.

AbCellera Biologics Inc. (NASDAQ:ABCL - Get Free Report)'s stock price traded up 4.6% on Tuesday. The stock traded as high as $14.90 and last traded at $14.5560. 4,404,271 shares were traded during trading, a decline of 28% from the average session volume of 6,090,082 shares. The stock had previously closed at $13.92.

Wall Street Analyst Weigh In

ABCL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of AbCellera Biologics in a report on Tuesday. They set an "overweight" rating and a $17.00 price target on the stock. The Goldman Sachs Group started coverage on shares of AbCellera Biologics in a report on Thursday, September 24th. They issued a "neutral" rating and a $13.00 price objective for the company. Stifel Nicolaus upped their price objective on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Benchmark raised shares of AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 target price on the stock in a research note on Tuesday, July 7th. Finally, Cantor Fitzgerald raised their target price on AbCellera Biologics from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $13.38.

AbCellera Biologics Trading Up 4.7%

The business has a 50-day moving average price of $9.97 and a 200-day moving average price of $6.74. The stock has a market cap of $4.47 billion, a PE ratio of -26.99 and a beta of 1.32.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) earnings per share 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%. Equities analysts expect that AbCellera Biologics Inc. will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ABCL. Bank of America Corp DE acquired a new stake in AbCellera Biologics in the 2nd quarter worth about $48,211,000. BlackRock Inc. acquired a new stake in shares of AbCellera Biologics in the second quarter worth approximately $29,872,000. Royal Bank of Canada boosted its stake in shares of AbCellera Biologics by 5.6% in 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 purchased a new stake in shares of AbCellera Biologics during the first quarter worth approximately $1,188,000. Finally, Headlands Technologies LLC increased its position in shares of 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 in the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

AbCellera Biologics Company Profile

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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