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

AbCellera Biologics Inc. (NASDAQ:ABCL) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $7.80.

A number of brokerages have recently weighed in on ABCL. JonesTrading assumed coverage on shares of AbCellera Biologics in a research note on Friday, April 10th. They set a “buy” rating and a $11.00 target price on the stock. Cantor Fitzgerald assumed coverage on shares of AbCellera Biologics in a research note on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price objective on the stock. Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Monday, April 20th.

Institutional Investors Weigh In On AbCellera Biologics

Several hedge funds have recently bought and sold shares of ABCL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in AbCellera Biologics during the fourth quarter worth about $26,938,000. Goldman Sachs Group Inc. boosted its stake in AbCellera Biologics by 1,636.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company’s stock worth $14,858,000 after acquiring an additional 4,094,268 shares in the last quarter. Bank of America Corp DE boosted its stake in AbCellera Biologics by 977.8% during the third quarter. Bank of America Corp DE now owns 2,418,304 shares of the company’s stock worth $12,164,000 after acquiring an additional 2,193,939 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in AbCellera Biologics by 146.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company’s stock worth $6,142,000 after acquiring an additional 1,065,888 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in AbCellera Biologics by 25.9% during the third quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company’s stock worth $26,031,000 after acquiring an additional 1,064,290 shares in the last quarter. Institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Trading Down 5.1%

Shares of ABCL opened at $6.13 on Friday. The firm’s 50-day moving average price is $4.21 and its 200-day moving average price is $3.83. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -12.77 and a beta of 1.18. AbCellera Biologics has a 1-year low of $2.09 and a 1-year high of $6.79.

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