AbCellera Biologics’ (ABCL) Neutral Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reiterated their neutral rating on shares of AbCellera Biologics (NASDAQ:ABCL) in a report published on Thursday morning, MarketBeat.com reports. The brokerage currently has a $13.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen raised shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Tuesday, July 7th. Truist Financial boosted their target price 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. Stifel Nicolaus upped their target price on shares of AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Cantor Fitzgerald increased their price target on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.86.

AbCellera Biologics Price Performance

ABCL stock opened at $12.70 on Thursday. AbCellera Biologics has a 1 year low of $2.74 and a 1 year high of $13.18. The company has a market cap of $3.89 billion, a P/E ratio of -23.52 and a beta of 1.32. The stock’s fifty day moving average price is $9.80 and its 200-day moving average price is $6.65.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new stake in shares of AbCellera Biologics during the 2nd quarter valued at $48,211,000. BlackRock Inc. bought a new position in AbCellera Biologics in the 2nd quarter worth $29,872,000. SEB Asset Management AB purchased a new stake in AbCellera Biologics in the 1st quarter worth $1,188,000. Man Group plc purchased a new stake in AbCellera Biologics in the 2nd quarter worth $1,797,000. Finally, Citizens Financial Group Inc. RI bought a new stake in AbCellera Biologics during the second quarter valued at about $1,663,000. Institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

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.