AbCellera Biologics Inc. (NASDAQ:ABCL) Given Average Rating of “Moderate Buy” by Analysts

by · The Markets Daily

AbCellera Biologics Inc. (NASDAQ:ABCL – Get Free Report) has received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $12.8333.

A number of analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Tuesday, July 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Cantor Fitzgerald increased their price objective on AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday.

Check Out Our Latest Analysis on ABCL

AbCellera Biologics Trading Down 1.2%

Shares of ABCL opened at $11.43 on Friday. The business’s 50-day moving average price is $8.43 and its 200 day moving average price is $5.76. The stock has a market capitalization of $3.50 billion, a P/E ratio of -21.17 and a beta of 1.32. AbCellera Biologics has a 1-year low of $2.74 and a 1-year high of $12.58.

AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%.The firm had revenue of $4.05 million during the quarter, compared to analyst estimates of $7.85 million. On average, research analysts predict that AbCellera Biologics will post -0.68 earnings per share for the current year.

Institutional Trading of AbCellera Biologics

Several institutional investors have recently made changes to their positions in ABCL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in AbCellera Biologics during the fourth quarter valued at approximately $26,938,000. Bank of America Corp DE acquired a new stake in shares of AbCellera Biologics during the 2nd quarter valued at $48,211,000. Goldman Sachs Group Inc. grew its holdings in shares of AbCellera Biologics by 1,636.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company’s stock valued at $14,858,000 after acquiring an additional 4,094,268 shares in the last quarter. BlackRock Inc. acquired a new position in shares of AbCellera Biologics in the second quarter worth $29,872,000. Finally, Tudor Investment Corp ET AL increased its stake in shares of AbCellera Biologics by 146.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company’s stock worth $6,142,000 after acquiring an additional 1,065,888 shares during the last quarter. 61.42% of the stock is currently owned by institutional investors and hedge funds.

AbCellera Biologics Company Profile

(Get Free Report)

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.

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