AbCellera Biologics Inc. (NASDAQ:ABCL) Receives $12.83 Average Price Target from Analysts

AbCellera Biologics Inc. (NASDAQ:ABCL) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $12.8333.

A number of analysts have issued reports on ABCL shares. Benchmark raised 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. Wall Street Zen raised shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Cantor Fitzgerald upped their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Stifel Nicolaus raised 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, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Friday, July 17th.

Institutional Trading of AbCellera Biologics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP acquired a new position in AbCellera Biologics in the fourth quarter valued at approximately $38,000. Allworth Financial LP increased its stake in AbCellera Biologics by 857.0% during the fourth quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock worth $39,000 after acquiring an additional 10,096 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in AbCellera Biologics during the first quarter worth $46,000. Magnetar Financial LLC purchased a new stake in AbCellera Biologics in the fourth quarter valued at $49,000. Finally, Oxford Asset Management LLP purchased a new stake in AbCellera Biologics in the fourth quarter valued at $51,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

Shares of AbCellera Biologics stock opened at $10.89 on Friday. The stock has a market cap of $3.34 billion, a P/E ratio of -20.17 and a beta of 1.32. The stock’s 50 day simple moving average is $8.74 and its 200-day simple moving average is $6.03. AbCellera Biologics has a 1-year low of $2.74 and a 1-year high of $12.58.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) 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%. As a group, research analysts expect that AbCellera Biologics will post -0.68 EPS for the current fiscal year.

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.