Analysts Set AbCellera Biologics Inc. (NASDAQ:ABCL) Target Price at $7.75

by · The Markets Daily

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL – Get Free Report) have been assigned an average rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $7.75.

ABCL has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Wednesday, January 21st. Leerink Partners downgraded AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Finally, Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 20th.

View Our Latest Analysis on ABCL

AbCellera Biologics Stock Performance

Shares of NASDAQ:ABCL opened at $4.14 on Friday. The firm’s 50 day simple moving average is $3.77 and its 200-day simple moving average is $4.41. AbCellera Biologics has a one year low of $1.89 and a one year high of $6.51. The firm has a market cap of $1.24 billion, a PE ratio of -7.26 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The firm had revenue of $6.51 million during the quarter, compared to the consensus estimate of $6.33 million. AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%. Equities research analysts predict that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Several institutional investors have recently bought and sold shares of ABCL. Hollencrest Capital Management bought a new position in AbCellera Biologics in the third quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of AbCellera Biologics in the 2nd quarter valued at $35,000. J2 Capital Management Inc bought a new position in shares of AbCellera Biologics in the 2nd quarter worth $45,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of AbCellera Biologics by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,546 shares of the company’s stock worth $50,000 after purchasing an additional 2,993 shares during the last quarter. Finally, Lantern Wealth Advisors LLC purchased a new stake in shares of AbCellera Biologics during the 2nd quarter worth $51,000. 61.42% of the stock is owned by hedge funds and other institutional investors.

About AbCellera Biologics

(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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