AbCellera Biologics (NASDAQ:ABCL) Stock Picked Up by Analysts at UBS Group

Analysts at UBS Group started coverage on shares of AbCellera Biologics (NASDAQ:ABCL) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. UBS Group’s price objective would indicate a potential upside of 42.74% from the company’s previous close.

A number of other brokerages have also weighed in on ABCL. The Goldman Sachs Group assumed coverage on shares of AbCellera Biologics in a research note on Thursday, September 24th. They issued a “neutral” rating and a $13.00 price target on the stock. JPMorgan Chase & Co. started coverage on AbCellera Biologics in a report on Tuesday, September 29th. They issued an “overweight” rating and a $17.00 price objective on the stock. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Tuesday, July 7th. Truist Financial increased their target price on AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Cantor Fitzgerald increased their target price on AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.89.

AbCellera Biologics Stock Down 0.2%

ABCL opened at $12.61 on Monday. The company has a market cap of $3.87 billion, a price-to-earnings ratio of -23.35 and a beta of 1.41. AbCellera Biologics has a 52-week low of $2.74 and a 52-week high of $15.02. The firm’s fifty day simple moving average is $11.66 and its two-hundred day simple moving average is $7.50.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The company had revenue of $4.05 million during the quarter, compared to analyst estimates 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, research analysts forecast that AbCellera Biologics will post -0.69 EPS for the current year.

Institutional Investors Weigh In On AbCellera Biologics

A number of large investors have recently modified their holdings of ABCL. Green Alpha Advisors LLC grew its stake in AbCellera Biologics by 4.6% during the 3rd quarter. Green Alpha Advisors LLC now owns 22,930 shares of the company’s stock valued at $335,000 after acquiring an additional 1,014 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in AbCellera Biologics in the 2nd quarter valued at about $442,000. NewEdge Advisors LLC lifted its stake in AbCellera Biologics by 4,850.7% in the 2nd quarter. NewEdge Advisors LLC now owns 14,852 shares of the company’s stock worth $117,000 after purchasing an additional 14,552 shares in the last quarter. HighTower Advisors LLC lifted its stake in AbCellera Biologics by 12.5% in the 2nd quarter. HighTower Advisors LLC now owns 107,933 shares of the company’s stock worth $847,000 after purchasing an additional 12,000 shares in the last quarter. Finally, XML Financial LLC lifted its stake in AbCellera Biologics by 35.7% in the 2nd quarter. XML Financial LLC now owns 57,025 shares of the company’s stock worth $448,000 after purchasing an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

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.