Wall Street Zen Upgrades AbCellera Biologics (NASDAQ:ABCL) to Hold

AbCellera Biologics (NASDAQ:ABCL) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other research analysts have also recently weighed in on ABCL. JPMorgan Chase & Co. assumed coverage on shares of AbCellera Biologics in a report on Tuesday, September 29th. They set an “overweight” rating and a $17.00 price target on the stock. Stifel Nicolaus increased their price objective on shares of AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a research note 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 report on Tuesday, July 7th. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Thursday, October 15th. Finally, UBS Group initiated coverage on AbCellera Biologics in a report on Monday, October 12th. They issued a “buy” rating and a $18.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, AbCellera Biologics presently has a consensus rating of “Moderate Buy” and an average target price of $14.60.

AbCellera Biologics Stock Down 6.2%

ABCL stock opened at $12.27 on Friday. The firm has a market capitalization of $3.76 billion, a PE ratio of -22.72 and a beta of 1.41. AbCellera Biologics has a twelve month low of $2.74 and a twelve month high of $15.02. The stock’s 50 day moving average is $12.29 and its 200-day moving average is $6.85.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly 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). AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. The company had revenue of $4.05 million during the quarter, compared to analysts’ expectations of $7.85 million. On average, equities research analysts anticipate that AbCellera Biologics will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of AbCellera Biologics

Large investors have recently modified their holdings of the business. Bank of America Corp DE purchased a new position in AbCellera Biologics in the 2nd quarter worth approximately $48,211,000. BlackRock Inc. purchased a new stake in shares of AbCellera Biologics during the 2nd quarter valued at $29,872,000. Royal Bank of Canada raised its position in shares of AbCellera Biologics by 5.6% during the 1st quarter. Royal Bank of Canada now owns 394,753 shares of the company’s stock valued at $1,378,000 after buying an additional 20,897 shares in the last quarter. SEB Asset Management AB purchased a new stake in shares of AbCellera Biologics during the 1st quarter valued at $1,188,000. Finally, Headlands Technologies LLC lifted its holdings in shares of AbCellera Biologics by 34.8% during the 2nd quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock worth $1,933,000 after acquiring an additional 63,596 shares during the last quarter. Institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

AbCellera Biologics Inc is a biotechnology company headquartered in Vancouver, British Columbia, that develops antibody-based medicines and provides antibody discovery services to pharmaceutical and biotechnology companies. Its platform is designed to identify therapeutic antibodies from immune cells and accelerate their progression from discovery through development.

The company combines high-throughput screening, microfluidics, single-cell analysis, automation, and artificial intelligence to evaluate large numbers of antibody candidates.