AbCellera Biologics Inc. (NASDAQ:ABCL) Given Average Rating of “Buy” by Brokerages

AbCellera Biologics Inc. (NASDAQ:ABCL) has received a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $16.17.

Several brokerages have weighed in on ABCL. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Thursday, February 22nd. Stifel Nicolaus dropped their target price on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Finally, KeyCorp dropped their target price on shares of AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th.

Hedge Funds Weigh In On AbCellera Biologics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacifica Partners Inc. raised its stake in AbCellera Biologics by 82.9% in the fourth quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock valued at $28,000 after purchasing an additional 2,185 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of AbCellera Biologics during the third quarter worth approximately $48,000. Signaturefd LLC raised its stake in shares of AbCellera Biologics by 306.3% during the fourth quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock worth $61,000 after acquiring an additional 7,988 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of AbCellera Biologics in the fourth quarter worth $62,000. Finally, Seelaus Asset Management LLC purchased a new position in shares of AbCellera Biologics in the first quarter worth $68,000. Institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Stock Down 1.3 %

Shares of NASDAQ:ABCL opened at $3.02 on Thursday. AbCellera Biologics has a 12 month low of $2.98 and a 12 month high of $8.05. The company’s fifty day simple moving average is $3.82 and its 200 day simple moving average is $4.65. The firm has a market cap of $888.03 million, a price-to-earnings ratio of -5.81 and a beta of 0.45.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.02. AbCellera Biologics had a negative net margin of 410.47% and a negative return on equity of 12.61%. The firm had revenue of $9.95 million for the quarter, compared to analyst estimates of $10.73 million. During the same period in the previous year, the business earned ($0.14) EPS. The company’s revenue was down 18.4% compared to the same quarter last year. Research analysts expect that AbCellera Biologics will post -0.6 earnings per share for the current fiscal year.

About AbCellera Biologics

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.