AbCellera Biologics (NASDAQ:ABCL) Stock Price Up 7.8% – Should You Buy?
by Amy Steele · The Cerbat GemAbCellera Biologics Inc. (NASDAQ:ABCL – Get Free Report)’s share price was up 7.8% during mid-day trading on Wednesday . The company traded as high as $4.37 and last traded at $4.3670. Approximately 1,230,591 shares changed hands during trading, a decline of 76% from the average daily volume of 5,031,281 shares. The stock had previously closed at $4.05.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on ABCL shares. Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Monday, April 20th. Cantor Fitzgerald began coverage on AbCellera Biologics in a report on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target for the company. Finally, JonesTrading began coverage on AbCellera Biologics in a report on Friday, April 10th. They issued a “buy” rating and a $11.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.80.
Read Our Latest Stock Analysis on ABCL
AbCellera Biologics Stock Performance
The firm has a fifty day moving average price of $3.92 and a 200 day moving average price of $3.77. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -11.01 and a beta of 1.02.
AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.08. The business had revenue of $8.32 million during the quarter, compared to analysts’ expectations of $5.41 million. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.During the same period last year, the firm earned ($0.15) EPS. Research analysts predict that AbCellera Biologics Inc. will post -0.67 earnings per share for the current fiscal year.
Hedge Funds Weigh In On AbCellera Biologics
Several hedge funds and other institutional investors have recently bought and sold shares of ABCL. Invesco Ltd. raised its holdings in AbCellera Biologics by 114.6% during the first quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock worth $54,000 after purchasing an additional 12,893 shares during the last quarter. Geode Capital Management LLC raised its holdings in AbCellera Biologics by 3.5% during the second quarter. Geode Capital Management LLC now owns 363,188 shares of the company’s stock worth $1,246,000 after purchasing an additional 12,301 shares during the last quarter. Creative Planning raised its holdings in AbCellera Biologics by 6.9% during the second quarter. Creative Planning now owns 41,003 shares of the company’s stock worth $141,000 after purchasing an additional 2,656 shares during the last quarter. Raymond James Financial Inc. raised its holdings in AbCellera Biologics by 17.0% during the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock worth $96,000 after purchasing an additional 4,070 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of AbCellera Biologics by 1,304.5% in the second quarter. Bank of America Corp DE now owns 224,365 shares of the company’s stock worth $770,000 after acquiring an additional 208,390 shares during the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.
AbCellera Biologics Company Profile
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.