Brokerages Set AbCellera Biologics Inc. (NASDAQ:ABCL) PT at $14.20

AbCellera Biologics Inc. (NASDAQ:ABCL) has received an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $14.20.

A number of research firms have recently issued reports on ABCL. KeyCorp reissued an “overweight” rating and issued a $5.00 price target (down from $7.00) on shares of AbCellera Biologics in a research note on Thursday, July 11th. Benchmark downgraded AbCellera Biologics from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th.

AbCellera Biologics Stock Down 0.4 %

AbCellera Biologics stock opened at $2.60 on Friday. The company has a fifty day simple moving average of $2.70 and a 200-day simple moving average of $3.37. The firm has a market capitalization of $764.54 million, a price-to-earnings ratio of -5.00 and a beta of 0.37. AbCellera Biologics has a 52-week low of $2.34 and a 52-week high of $6.05.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. AbCellera Biologics had a negative return on equity of 13.40% and a negative net margin of 463.77%. The business had revenue of $7.30 million for the quarter, compared to analyst estimates of $10.12 million. During the same quarter in the previous year, the firm earned ($0.11) EPS. The company’s quarterly revenue was down 27.7% compared to the same quarter last year. On average, research analysts anticipate that AbCellera Biologics will post -0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Evergreen Capital Management LLC purchased a new position in AbCellera Biologics in the second quarter worth approximately $32,000. Pacifica Partners Inc. grew its stake in shares of AbCellera Biologics by 78.8% during the first quarter. Pacifica Partners Inc. now owns 8,619 shares of the company’s stock worth $39,000 after purchasing an additional 3,799 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in AbCellera Biologics by 104.8% in the second quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company’s stock valued at $64,000 after buying an additional 11,000 shares during the last quarter. Seelaus Asset Management LLC acquired a new stake in AbCellera Biologics in the first quarter valued at $68,000. Finally, XTX Topco Ltd acquired a new stake in AbCellera Biologics in the second quarter valued at $99,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

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.