Truist Financial Issues Positive Forecast for AbCellera Biologics (NASDAQ:ABCL) Stock Price

Key Points

• Truist Financial raised AbCellera’s price target from $12 to $30 and maintained a “buy” rating, implying 203% upside from the prior close. The broader analyst consensus is “Moderate Buy,” with an average target of $12.83.
• ABCL shares rose 6% to $9.90, while institutional investors and hedge funds own approximately 61.42% of the company, signaling substantial institutional participation.
• AbCellera reported weaker-than-expected quarterly results, with an adjusted loss of $0.18 per share versus the $0.16 consensus loss and revenue of $4.05 million versus $7.85 million expected. The company remains unprofitable, with a negative net margin of 248.83%, and analysts forecast a full-year loss of $0.67 per share.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) had its price target raised by stock analysts at Truist Financial from $12.00 to $30.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 203.12% from the company's previous close.

A number of other brokerages also recently issued reports on ABCL. Benchmark raised shares of AbCellera Biologics from a "hold" rating to a "buy" rating and set a $11.00 price objective on the stock in a research report on Tuesday, July 7th. Wall Street Zen cut shares of AbCellera Biologics from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Weiss Ratings restated a "sell (d-)" rating on shares of AbCellera Biologics in a research note on Friday, July 17th. Stifel Nicolaus boosted their target price on AbCellera Biologics from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald raised their price target on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AbCellera Biologics has a consensus rating of "Moderate Buy" and an average target price of $12.83.

AbCellera Biologics Trading Up 6.0%

Shares of ABCL traded up $0.56 during trading hours on Tuesday, hitting $9.90. The company had a trading volume of 13,013,921 shares, compared to its average volume of 6,039,575. The company has a market capitalization of $3.03 billion, a PE ratio of -18.27 and a beta of 1.20. AbCellera Biologics has a one year low of $2.74 and a one year high of $10.29. The company's fifty day moving average price is $6.28 and its two-hundred day moving average price is $4.73.

AbCellera Biologics (NASDAQ:ABCL - Get Free Report) last issued 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 the consensus estimate of $7.85 million. AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. Analysts forecast that AbCellera Biologics will post -0.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of AbCellera Biologics in the fourth quarter worth $26,938,000. Two Sigma Investments LP boosted its stake in AbCellera Biologics by 25.9% during the 3rd quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company's stock worth $26,031,000 after purchasing an additional 1,064,290 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of AbCellera Biologics by 1,636.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company's stock worth $14,858,000 after buying an additional 4,094,268 shares during the last quarter. BlackRock Inc. acquired a new position in shares of AbCellera Biologics in the second quarter valued at approximately $29,872,000. Finally, Bank of America Corp DE raised its position in AbCellera Biologics by 13.9% during the 1st quarter. Bank of America Corp DE now owns 2,999,936 shares of the company's stock worth $10,470,000 after buying an additional 367,064 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company's stock.

Key Stories Impacting AbCellera Biologics

Here are the key news stories impacting AbCellera Biologics this week:

• Positive Sentiment: Positive Phase 2 results: ABCL635 significantly reduced both the frequency and severity of moderate-to-severe hot flashes in a Phase 1/2 trial, meeting its primary efficacy endpoints. The results support further development of a non-hormonal treatment for menopause symptoms. Reuters article
• Positive Sentiment: Commercial opportunity strengthened: Coverage characterized the data as a strong efficacy benchmark, increasing optimism that ABCL635 could become an important growth driver if later-stage trials and regulatory reviews are successful. Benzinga article
• Positive Sentiment: Bullish options activity: Investors purchased 16,666 ABCL call options, approximately 151% above the typical daily volume of 6,636 contracts. The activity signals increased speculative interest in additional share gains, although it does not guarantee future performance. DefenseWorld article
• Neutral Sentiment: Key risk remains execution: The reported data are top-line Phase 2 results. AbCellera must still complete subsequent development, establish the treatment’s durability and safety profile, and obtain regulatory approval before ABCL635 can generate product revenue. AOL article

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.

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.

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