AbCellera Biologics (NASDAQ:ABCL) Trading 3.3% Higher – What’s Next?

AbCellera Biologics Inc. (NASDAQ:ABCL) shares rose 3.3% on Friday . The company traded as high as $2.80 and last traded at $2.80. Approximately 151,683 shares were traded during trading, a decline of 91% from the average daily volume of 1,762,049 shares. The stock had previously closed at $2.71.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABCL. 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, November 5th. Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a report on Tuesday, November 5th.

AbCellera Biologics Price Performance

The company’s 50-day simple moving average is $2.82 and its two-hundred day simple moving average is $2.83. The firm has a market capitalization of $841.79 million, a P/E ratio of -4.67 and a beta of 0.41.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $6.51 million during the quarter, compared to the consensus estimate of $8.95 million. AbCellera Biologics had a negative return on equity of 15.73% and a negative net margin of 533.32%. During the same period last year, the business earned ($0.10) EPS. Analysts predict that AbCellera Biologics Inc. will post -0.59 earnings per share for the current year.

Hedge Funds Weigh In On AbCellera Biologics

A number of hedge funds have recently modified their holdings of ABCL. Arcadia Investment Management Corp MI bought a new stake in shares of AbCellera Biologics during the 3rd quarter valued at $26,000. NBC Securities Inc. increased its stake in AbCellera Biologics by 56.0% in the 3rd quarter. NBC Securities Inc. now owns 11,420 shares of the company’s stock worth $29,000 after buying an additional 4,100 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in AbCellera Biologics during the second quarter valued at about $32,000. Ballentine Partners LLC purchased a new position in shares of AbCellera Biologics in the third quarter valued at about $54,000. Finally, Clarkston Capital Partners LLC bought a new position in shares of AbCellera Biologics in the third quarter worth about $57,000. 61.42% of the stock is currently owned by institutional investors.

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.