AbCellera Biologics Inc. (NASDAQ:ABCL) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $7.80.

Several equities analysts have recently issued reports on ABCL shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Monday, April 20th. Wall Street Zen lowered AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Cantor Fitzgerald initiated coverage on AbCellera Biologics in a research note on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 target price on the stock. Finally, JonesTrading initiated coverage on AbCellera Biologics in a research note on Friday, April 10th. They issued a “buy” rating and a $11.00 target price on the stock.

Institutional Investors Weigh In On AbCellera Biologics

Hedge funds have recently modified their holdings of the business. AssuredPartners Investment Advisors LLC bought a new position in shares of AbCellera Biologics during the fourth quarter worth about $34,000. OneDigital Investment Advisors LLC acquired a new stake in shares of AbCellera Biologics in the third quarter valued at approximately $52,000. Insigneo Advisory Services LLC acquired a new stake in shares of AbCellera Biologics in the third quarter valued at approximately $52,000. Voleon Capital Management LP acquired a new stake in AbCellera Biologics during the 3rd quarter worth approximately $56,000. Finally, Engineers Gate Manager LP acquired a new position in AbCellera Biologics in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Stock Performance

Shares of ABCL stock opened at $7.38 on Tuesday. AbCellera Biologics has a 52 week low of $2.74 and a 52 week high of $7.40. The stock has a market capitalization of $2.25 billion, a PE ratio of -15.37 and a beta of 1.18. The stock’s fifty day moving average is $5.07 and its 200-day moving average is $4.11.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.08. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.The business had revenue of $8.32 million for the quarter, compared to analyst estimates of $5.41 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. As a group, analysts forecast that AbCellera Biologics will post -0.67 earnings per share for the current fiscal year.

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.