AbCellera Biologics Inc. (NASDAQ:ABCL) Given Average Recommendation of “Hold” by Analysts

AbCellera Biologics Inc. (NASDAQ:ABCL) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $7.75.

Several equities analysts have recently commented on ABCL shares. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, January 21st. Leerink Partners cut shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Wall Street Zen upgraded shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th.

Institutional Trading of AbCellera Biologics

Large investors have recently bought and sold shares of the business. Hollencrest Capital Management acquired a new position in AbCellera Biologics during the third quarter worth about $25,000. AssuredPartners Investment Advisors LLC bought a new position in AbCellera Biologics in the 4th quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd bought a new position in AbCellera Biologics in the 2nd quarter valued at approximately $35,000. OneDigital Investment Advisors LLC acquired a new stake in AbCellera Biologics in the third quarter valued at approximately $52,000. Finally, Insigneo Advisory Services LLC bought a new stake in shares of AbCellera Biologics during the third quarter worth $52,000. 61.42% of the stock is owned by institutional investors and hedge funds.

AbCellera Biologics Price Performance

Shares of NASDAQ:ABCL opened at $3.24 on Wednesday. The business’s 50 day simple moving average is $3.64 and its 200 day simple moving average is $4.23. AbCellera Biologics has a 1 year low of $1.89 and a 1 year high of $6.51. The company has a market capitalization of $969.83 million, a P/E ratio of -5.68 and a beta of 0.81.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. The business had revenue of $44.85 million during the quarter, compared to the consensus estimate of $6.31 million. AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%. On average, sell-side analysts anticipate that AbCellera Biologics will post -0.59 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.