AbCellera Biologics (NASDAQ:ABCL) Earns “Hold” Rating from Benchmark

Benchmark restated their hold rating on shares of AbCellera Biologics (NASDAQ:ABCL) in a research note published on Tuesday morning,Benzinga reports.

ABCL has been the topic of a number of other reports. Stifel Nicolaus reissued a “buy” rating and set a $12.00 price target (down from $14.00) on shares of AbCellera Biologics in a report on Tuesday. KeyCorp restated 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.

AbCellera Biologics Price Performance

Shares of ABCL stock opened at $2.70 on Tuesday. The company has a market cap of $795.61 million, a price-to-earnings ratio of -4.46 and a beta of 0.35. AbCellera Biologics has a 1 year low of $2.34 and a 1 year high of $6.05. The firm has a fifty day moving average price of $2.63 and a 200-day moving average price of $3.05.

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

Hedge Funds Weigh In On AbCellera Biologics

Several hedge funds have recently bought and sold shares of the business. Arcadia Investment Management Corp MI bought a new position in AbCellera Biologics in the 3rd quarter worth about $26,000. Evergreen Capital Management LLC purchased a new stake in shares of AbCellera Biologics in the second quarter valued at approximately $32,000. NBC Securities Inc. grew its stake in AbCellera Biologics by 56.0% in the third quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock worth $29,000 after purchasing an additional 4,100 shares in the last quarter. Ballentine Partners LLC purchased a new position in AbCellera Biologics during the 3rd quarter worth $54,000. Finally, B. Riley Wealth Advisors Inc. increased its holdings in AbCellera Biologics by 104.8% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 21,500 shares of the company’s stock worth $64,000 after purchasing an additional 11,000 shares during the period. Institutional investors own 61.42% of the company’s stock.

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.