AbCellera Biologics (NASDAQ:ABCL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AbCellera Biologics (NASDAQ:ABCL) from a sell rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Thursday, October 15th. Truist Financial lifted their price target on AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Jefferies Financial Group began coverage on AbCellera Biologics in a report on Friday. They set a “buy” rating and a $21.00 price target for the company. JPMorgan Chase & Co. started coverage on AbCellera Biologics in a research report on Tuesday, September 29th. They set an “overweight” rating and a $17.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on AbCellera Biologics in a research report on Thursday, September 24th. They set a “neutral” rating and a $13.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.60.

AbCellera Biologics Trading Down 9.4%

Shares of AbCellera Biologics stock opened at $11.12 on Friday. The company has a 50 day moving average of $12.28 and a 200-day moving average of $6.88. AbCellera Biologics has a 1-year low of $2.74 and a 1-year high of $15.02. The company has a market cap of $3.41 billion, a PE ratio of -20.59 and a beta of 1.41.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly 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). 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 analyst estimates of $7.85 million. Research analysts forecast that AbCellera Biologics will post -0.69 earnings per share for the current year.

Institutional Trading of AbCellera Biologics

A number of hedge funds have recently added to or reduced their stakes in ABCL. Bank of America Corp DE acquired a new position in shares of AbCellera Biologics during the second quarter worth $48,211,000. BlackRock Inc. acquired a new stake in shares of AbCellera Biologics during the 2nd quarter valued at $29,872,000. Headlands Technologies LLC boosted 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 valued at $1,933,000 after acquiring an additional 63,596 shares in the last quarter. Man Group plc acquired a new stake in shares of AbCellera Biologics during the 2nd quarter valued at $1,797,000. Finally, Citizens Financial Group Inc. RI bought a new stake in AbCellera Biologics during the 2nd quarter worth $1,663,000. Institutional investors and hedge funds 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.