AbCellera Biologics (NASDAQ:ABCL) Research Coverage Started at UBS Group

UBS Group began coverage on shares of AbCellera Biologics (NASDAQ:ABCL) in a report issued on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $18.00 price target on the stock.

ABCL has been the subject of a number of other reports. Stifel Nicolaus lifted 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 boosted their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Truist Financial upped their price objective on shares of AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. began coverage on shares of AbCellera Biologics in a report on Tuesday, September 29th. They issued an “overweight” rating and a $17.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.89.

AbCellera Biologics Trading Down 1.9%

ABCL opened at $12.37 on Monday. The company has a market cap of $3.79 billion, a price-to-earnings ratio of -22.91 and a beta of 1.41. The stock has a fifty day simple moving average of $11.79 and a two-hundred day simple moving average of $7.57. AbCellera Biologics has a 12-month low of $2.74 and a 12-month high of $15.02.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The business had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. On average, analysts predict that AbCellera Biologics will post -0.69 EPS for the current year.

Institutional Trading of AbCellera Biologics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Green Alpha Advisors LLC grew its holdings in shares of AbCellera Biologics by 4.6% during the third quarter. Green Alpha Advisors LLC now owns 22,930 shares of the company’s stock valued at $335,000 after buying an additional 1,014 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of AbCellera Biologics during the second quarter valued at approximately $442,000. NewEdge Advisors LLC increased its position in shares of AbCellera Biologics by 4,850.7% during the second quarter. NewEdge Advisors LLC now owns 14,852 shares of the company’s stock valued at $117,000 after acquiring an additional 14,552 shares in the last quarter. HighTower Advisors LLC lifted its position in AbCellera Biologics by 12.5% in the 2nd quarter. HighTower Advisors LLC now owns 107,933 shares of the company’s stock valued at $847,000 after acquiring an additional 12,000 shares in the last quarter. Finally, XML Financial LLC boosted its stake in AbCellera Biologics by 35.7% during the 2nd quarter. XML Financial LLC now owns 57,025 shares of the company’s stock valued at $448,000 after purchasing an additional 15,000 shares during the last quarter. 61.42% of the stock is currently owned by institutional investors.

About AbCellera Biologics

AbCellera Biologics Inc is a biotechnology company that develops technologies for the discovery and development of antibody medicines. Its platform combines high-throughput screening, single-cell analysis, microfluidics, data science and machine learning to identify antibodies with potential therapeutic applications.

The company works with pharmaceutical and biotechnology partners worldwide, helping them discover and advance antibody candidates for areas such as cancer, infectious diseases, autoimmune disorders and other medical conditions.