AbCellera Biologics (NASDAQ:ABCL) Earns Neutral Rating from The Goldman Sachs Group

AbCellera Biologics (NASDAQ:ABCL)‘s stock had its “neutral” rating reissued by The Goldman Sachs Group in a research report issued on Thursday, Benzinga reports. They presently have a $13.00 price target on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 5.61% from the company’s current price.

Several other equities analysts have also recently issued reports on ABCL. Stifel Nicolaus boosted their target price on AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Cantor Fitzgerald increased their price target on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Friday, July 17th. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Tuesday, July 7th. Finally, Truist Financial boosted their price target on AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.86.

AbCellera Biologics Trading Down 2.7%

Shares of ABCL stock opened at $12.31 on Thursday. AbCellera Biologics has a twelve month low of $2.74 and a twelve month high of $13.18. The business’s 50 day moving average is $9.55 and its two-hundred day moving average is $6.54. The company has a market capitalization of $3.77 billion, a P/E ratio of -22.80 and a beta of 1.32.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data 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 return on equity of 17.49% and a negative net margin of 248.83%.The firm had revenue of $4.05 million for the quarter, compared to analysts’ expectations of $7.85 million. As a group, equities analysts predict that AbCellera Biologics will post -0.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Institutional investors and hedge funds have recently bought and sold shares of the stock. AssuredPartners Investment Advisors LLC acquired a new stake in shares of AbCellera Biologics during the second quarter valued at about $80,000. Allworth Financial LP increased its holdings in AbCellera Biologics by 857.0% during the 4th quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock worth $39,000 after purchasing an additional 10,096 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of AbCellera Biologics in the 1st quarter valued at approximately $46,000. NewEdge Advisors LLC boosted its stake in shares of AbCellera Biologics by 4,850.7% during the 2nd quarter. NewEdge Advisors LLC now owns 14,852 shares of the company’s stock valued at $117,000 after buying an additional 14,552 shares during the last quarter. Finally, Ausdal Financial Partners Inc. bought a new stake in shares of AbCellera Biologics in the second quarter worth $119,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

AbCellera Biologics Inc is a biotechnology company that develops antibody-based medicines in partnership with pharmaceutical and biotechnology companies. Its technology platform combines artificial intelligence, machine learning, high-throughput screening, single-cell analysis and other laboratory techniques to identify and evaluate antibody candidates.

The company provides integrated antibody discovery and development services, helping partners move from biological targets and immune-cell samples to optimized therapeutic antibody candidates.