AbCellera Biologics (NASDAQ:ABCL) Trading Up 4.3%

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price was up 4.3% on Wednesday . The company traded as high as $4.25 and last traded at $4.14. Approximately 697,893 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 1,355,090 shares. The stock had previously closed at $3.97.

Analyst Ratings Changes

Several equities research analysts have weighed in on ABCL shares. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Thursday, February 22nd. Stifel Nicolaus lowered their price target on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $15.86.

AbCellera Biologics Trading Down 1.8 %

The company has a 50 day moving average price of $4.65 and a 200 day moving average price of $4.82. The company has a market capitalization of $1.14 billion, a P/E ratio of -7.71 and a beta of 0.36.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. The company had revenue of $9.18 million during the quarter, compared to the consensus estimate of $9.58 million. As a group, sell-side analysts forecast that AbCellera Biologics Inc. will post -0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors have recently modified their holdings of the business. Pacifica Partners Inc. increased its stake in AbCellera Biologics by 82.9% during the 4th quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock worth $28,000 after acquiring an additional 2,185 shares during the period. Pathstone Family Office LLC lifted its holdings in shares of AbCellera Biologics by 16.5% during the 3rd quarter. Pathstone Family Office LLC now owns 17,390 shares of the company’s stock worth $80,000 after acquiring an additional 2,466 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of AbCellera Biologics by 3.7% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 83,867 shares of the company’s stock worth $386,000 after acquiring an additional 3,000 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in AbCellera Biologics by 96.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,423 shares of the company’s stock valued at $34,000 after acquiring an additional 3,638 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in AbCellera Biologics by 13.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,855 shares of the company’s stock worth $221,000 after purchasing an additional 4,641 shares during the last quarter. Institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

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.