AbCellera Biologics Inc. (NASDAQ:ABCL) Stock Has Consensus Price Target of $13.38

AbCellera Biologics Inc. (NASDAQ:ABCL) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $13.38.

Several research analysts recently weighed in on the stock. Cantor Fitzgerald boosted their price target on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Friday, July 17th. JPMorgan Chase & Co. began coverage on shares of AbCellera Biologics in a report on Tuesday, September 29th. They issued an “overweight” rating and a $17.00 price target on the stock. Truist Financial increased their price objective on AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group started coverage on AbCellera Biologics in a research report on Thursday, September 24th. They issued a “neutral” rating and a $13.00 target price for the company.

AbCellera Biologics Stock Up 0.3%

Shares of NASDAQ:ABCL opened at $13.78 on Thursday. AbCellera Biologics has a twelve month low of $2.74 and a twelve month high of $15.02. The stock’s 50 day moving average is $10.82 and its 200-day moving average is $7.12. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of -25.52 and a beta of 1.41.

AbCellera Biologics (NASDAQ:ABCL) last issued 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). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%.The company had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. Equities research analysts anticipate that AbCellera Biologics will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of AbCellera Biologics

A number of institutional investors have recently modified their holdings of ABCL. Bank of America Corp DE bought a new position in shares of AbCellera Biologics in the second quarter worth $48,211,000. BlackRock Inc. purchased a new stake in shares of AbCellera Biologics in the second quarter worth about $29,872,000. Royal Bank of Canada grew its stake in AbCellera Biologics by 5.6% during the first quarter. Royal Bank of Canada now owns 394,753 shares of the company’s stock valued at $1,378,000 after acquiring an additional 20,897 shares in the last quarter. SEB Asset Management AB purchased a new stake in shares of AbCellera Biologics in the first quarter worth $1,188,000. Finally, Headlands Technologies LLC boosted its stake in AbCellera Biologics by 34.8% during the second quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock valued at $1,933,000 after buying an additional 63,596 shares during the period. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

About AbCellera Biologics

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.