AbCellera Biologics (NASDAQ:ABCL) Trading 6.2% Higher – Still a Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL) shares traded up 6.2% on Wednesday . The company traded as high as $3.19 and last traded at $3.31. 578,030 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 3,193,231 shares. The stock had previously closed at $3.12.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Benchmark reissued a “hold” rating on shares of AbCellera Biologics in a research report on Monday, March 3rd. Truist Financial reduced their target price on AbCellera Biologics from $28.00 to $10.00 and set a “buy” rating for the company in a report on Friday, May 16th. KeyCorp lifted their target price on AbCellera Biologics from $4.00 to $5.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. Finally, Stifel Nicolaus lowered their target price on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 28th.

AbCellera Biologics Stock Up 11.2%

The company has a market cap of $1.04 billion, a PE ratio of -6.20 and a beta of 0.36. The stock has a 50-day moving average of $2.41 and a 200-day moving average of $2.66.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.02. The firm had revenue of $4.24 million for the quarter, compared to analysts’ expectations of $7.12 million. AbCellera Biologics had a negative net margin of 737.56% and a negative return on equity of 15.98%. Research analysts expect that AbCellera Biologics Inc. will post -0.59 EPS for the current year.

Institutional Trading of AbCellera Biologics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC raised its position in shares of AbCellera Biologics by 333.1% during the 4th quarter. Squarepoint Ops LLC now owns 57,685 shares of the company’s stock valued at $169,000 after buying an additional 44,367 shares in the last quarter. Millennium Management LLC grew its holdings in shares of AbCellera Biologics by 96.7% during the 4th quarter. Millennium Management LLC now owns 1,482,715 shares of the company’s stock valued at $4,344,000 after purchasing an additional 728,828 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of AbCellera Biologics during the 4th quarter valued at $40,000. HighTower Advisors LLC grew its holdings in shares of AbCellera Biologics by 577.9% during the 4th quarter. HighTower Advisors LLC now owns 71,086 shares of the company’s stock valued at $208,000 after purchasing an additional 60,600 shares during the last quarter. Finally, Guardian Partners Inc. bought a new position in shares of AbCellera Biologics during the 4th quarter valued at $5,413,000. Hedge funds and other 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.