AbCellera Biologics Inc. (NASDAQ:ABCL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $12.8333.

A number of analysts recently weighed in on the company. Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Stifel Nicolaus increased their price target on shares of AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Cantor Fitzgerald increased their price objective on AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Tuesday, July 7th. Finally, Truist Financial lifted their price target on AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th.

AbCellera Biologics Stock Down 0.7%

NASDAQ ABCL opened at $11.12 on Wednesday. The stock’s 50-day simple moving average is $6.89 and its two-hundred day simple moving average is $5.01. AbCellera Biologics has a twelve month low of $2.74 and a twelve month high of $11.65. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -20.59 and a beta of 1.20.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The firm had revenue of $4.05 million during the quarter, compared to analysts’ expectations of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. On average, equities analysts expect that AbCellera Biologics will post -0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors have recently modified their holdings of ABCL. Invesco Ltd. grew its position in AbCellera Biologics by 114.6% during the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock valued at $54,000 after purchasing an additional 12,893 shares during the last quarter. Geode Capital Management LLC grew its position in AbCellera Biologics by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 363,188 shares of the company’s stock worth $1,246,000 after purchasing an additional 12,301 shares during the period. Creative Planning increased its position in AbCellera Biologics by 6.9% during the second quarter. Creative Planning now owns 41,003 shares of the company’s stock valued at $141,000 after acquiring an additional 2,656 shares during the last quarter. Raymond James Financial Inc. lifted its stake 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 worth $96,000 after purchasing an additional 4,070 shares during the period. Finally, Bank of America Corp DE raised its position in AbCellera Biologics by 1,304.5% in the second quarter. Bank of America Corp DE now owns 224,365 shares of the company’s stock worth $770,000 after acquiring an additional 208,390 shares during the period. 61.42% of the stock is owned by hedge funds and other 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.