AbCellera Biologics (NASDAQ:ABCL) Stock Price Up 5.2% – Time to Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price rose 5.2% during trading on Monday . The company traded as high as $2.63 and last traded at $2.63. Approximately 1,064,071 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 1,592,790 shares. The stock had previously closed at $2.50.

Wall Street Analyst Weigh In

ABCL has been the topic of a number of research reports. KeyCorp restated an “overweight” rating and issued a $5.00 price target (down from $7.00) on shares of AbCellera Biologics in a report on Thursday, July 11th. Benchmark lowered AbCellera Biologics from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.20.

AbCellera Biologics Stock Down 3.1 %

The company has a market cap of $732.19 million, a P/E ratio of -4.94 and a beta of 0.38. The stock has a 50 day moving average price of $2.63 and a two-hundred day moving average price of $3.28.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $7.30 million for the quarter, compared to analyst estimates of $10.12 million. During the same quarter last year, the company earned ($0.11) earnings per share. The firm’s quarterly revenue was down 27.7% compared to the same quarter last year. Equities analysts anticipate that AbCellera Biologics Inc. will post -0.55 EPS for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Intellectus Partners LLC boosted its holdings in shares of AbCellera Biologics by 0.7% during the 2nd quarter. Intellectus Partners LLC now owns 545,533 shares of the company’s stock valued at $1,615,000 after acquiring an additional 3,750 shares in the last quarter. Pacifica Partners Inc. lifted its holdings in AbCellera Biologics by 78.8% during the 1st quarter. Pacifica Partners Inc. now owns 8,619 shares of the company’s stock worth $39,000 after buying an additional 3,799 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in AbCellera Biologics by 85.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,500 shares of the company’s stock worth $111,000 after buying an additional 9,000 shares during the period. Evergreen Capital Management LLC acquired a new position in AbCellera Biologics during the 2nd quarter worth about $32,000. Finally, TrueMark Investments LLC lifted its holdings in AbCellera Biologics by 13.5% during the 1st quarter. TrueMark Investments LLC now owns 109,957 shares of the company’s stock worth $498,000 after buying an additional 13,104 shares during the period. 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.