AbCellera Biologics (NASDAQ:ABCL) Trading 13.5% Higher – What’s Next?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s share price rose 13.5% on Tuesday . The company traded as high as $11.91 and last traded at $12.0390. Approximately 1,915,826 shares traded hands during trading, a decline of 69% from the average session volume of 6,269,868 shares. The stock had previously closed at $10.61.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ABCL shares. Wall Street Zen lowered AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Truist Financial increased their price objective on shares of AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. Stifel Nicolaus lifted their price objective on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.83.

AbCellera Biologics Stock Up 17.1%

The company has a market cap of $3.81 billion, a price-to-earnings ratio of -22.91 and a beta of 1.20. The business’s fifty day simple moving average is $7.38 and its two-hundred day simple moving average is $5.23.

AbCellera Biologics (NASDAQ:ABCL) last posted 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). 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. Sell-side analysts predict that AbCellera Biologics Inc. will post -0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Several hedge funds have recently made changes to their positions in the company. XML Financial LLC grew 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 worth $448,000 after buying an additional 15,000 shares during the last quarter. Headlands Technologies LLC raised its position in 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 buying an additional 63,596 shares during the last quarter. Cookson Peirce & Co. Inc. purchased a new position in AbCellera Biologics during the second quarter worth about $785,000. Ausdal Financial Partners Inc. acquired a new stake in shares of AbCellera Biologics in the 2nd quarter valued at approximately $119,000. Finally, Bank of America Corp DE purchased a new stake in shares of AbCellera Biologics in the second quarter valued at approximately $48,211,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

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.