AbCellera Biologics (NASDAQ:ABCL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AbCellera Biologics (NASDAQ:ABCL) from a sell rating to a hold rating in a report released on Monday morning.

ABCL has been the subject of a number of other reports. Leerink Partners reaffirmed a “market perform” rating and issued a $4.00 price target on shares of AbCellera Biologics in a report on Friday, November 7th. Leerink Partnrs downgraded AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.75.

AbCellera Biologics Stock Up 0.5%

AbCellera Biologics stock opened at $4.29 on Monday. The firm has a 50 day moving average price of $3.72 and a 200-day moving average price of $4.38. AbCellera Biologics has a twelve month low of $1.89 and a twelve month high of $6.51. The company has a market capitalization of $1.28 billion, a P/E ratio of -7.53 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%.The company had revenue of $6.51 million during the quarter, compared to the consensus estimate of $6.33 million. Equities analysts expect that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Institutional Trading of AbCellera Biologics

Several institutional investors and hedge funds have recently modified their holdings of ABCL. Hollencrest Capital Management purchased a new position in shares of AbCellera Biologics during the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in AbCellera Biologics during the second quarter valued at approximately $35,000. J2 Capital Management Inc purchased a new position in AbCellera Biologics in the 2nd quarter worth approximately $45,000. Lantern Wealth Advisors LLC purchased a new position in AbCellera Biologics in the 2nd quarter worth approximately $51,000. Finally, OneDigital Investment Advisors LLC bought a new position in shares of AbCellera Biologics in the 3rd quarter worth $52,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

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.