AbCellera Biologics (NASDAQ:ABCL) Receives Buy Rating from Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of AbCellera Biologics (NASDAQ:ABCL) in a research note published on Tuesday,Benzinga reports. Stifel Nicolaus currently has a $12.00 price target on the stock, down from their previous price target of $14.00.

ABCL has been the subject of a number of other research reports. KeyCorp reiterated an “overweight” rating and issued a $5.00 price target (down previously from $7.00) on shares of AbCellera Biologics in a research note on Thursday, July 11th. Benchmark cut AbCellera Biologics from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th.

AbCellera Biologics Trading Down 1.4 %

ABCL opened at $2.72 on Tuesday. The business’s 50-day simple moving average is $2.63 and its 200 day simple moving average is $3.05. AbCellera Biologics has a 52-week low of $2.34 and a 52-week high of $6.05.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative return on equity of 15.54% and a negative net margin of 533.32%. The company had revenue of $6.51 million for the quarter, compared to the consensus estimate of $8.95 million. During the same quarter in the prior year, the company earned ($0.10) EPS. As a group, research analysts predict that AbCellera Biologics will post -0.55 earnings per share for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Baker BROS. Advisors LP boosted its holdings in shares of AbCellera Biologics by 20.1% during the 1st quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock worth $124,691,000 after buying an additional 4,615,887 shares during the period. Renaissance Technologies LLC lifted its position in AbCellera Biologics by 16.0% during the second quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock worth $5,117,000 after acquiring an additional 239,000 shares during the last quarter. Intellectus Partners LLC boosted its holdings in shares of AbCellera Biologics by 0.7% during the second quarter. Intellectus Partners LLC now owns 545,533 shares of the company’s stock worth $1,615,000 after acquiring an additional 3,750 shares during the period. Citizens Financial Group Inc. RI acquired a new position in shares of AbCellera Biologics in the second quarter valued at approximately $923,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of AbCellera Biologics by 104.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company’s stock worth $913,000 after purchasing an additional 158,000 shares during the period. 61.42% of the stock is currently owned by institutional investors and hedge funds.

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.