JonesTrading Begins Coverage on AbCellera Biologics (NASDAQ:ABCL)

Analysts at JonesTrading assumed coverage on shares of AbCellera Biologics (NASDAQ:ABCL) in a research report issued to clients and investors on Friday,Benzinga reports. The firm set a “buy” rating and a $11.00 price target on the stock. JonesTrading’s price objective indicates a potential upside of 219.77% from the stock’s current price.

Several other research firms also recently commented on ABCL. Wall Street Zen raised shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.40.

AbCellera Biologics Price Performance

ABCL stock opened at $3.44 on Friday. The company has a market capitalization of $1.04 billion, a PE ratio of -7.02 and a beta of 0.85. AbCellera Biologics has a 12 month low of $1.94 and a 12 month high of $6.51. The firm’s 50-day moving average is $3.38 and its 200 day moving average is $4.04.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.15. The company had revenue of $44.85 million for the quarter, compared to the consensus estimate of $6.31 million. AbCellera Biologics had a negative net margin of 198.37% and a negative return on equity of 15.05%. Sell-side analysts forecast that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Institutional Trading of AbCellera Biologics

A number of institutional investors have recently modified their holdings of ABCL. Invesco Ltd. boosted its holdings in shares of AbCellera Biologics by 114.6% in the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock valued at $54,000 after buying an additional 12,893 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of AbCellera Biologics by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 363,188 shares of the company’s stock valued at $1,246,000 after buying an additional 12,301 shares in the last quarter. Creative Planning boosted its holdings in shares of AbCellera Biologics by 6.9% in the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock valued at $141,000 after buying an additional 2,656 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of AbCellera Biologics by 17.0% in the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock valued at $96,000 after buying an additional 4,070 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of AbCellera Biologics by 1,304.5% in the 2nd quarter. Bank of America Corp DE now owns 224,365 shares of the company’s stock valued at $770,000 after buying an additional 208,390 shares in the last quarter. 61.42% of the stock is currently owned by institutional investors.

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.