AbCellera Biologics (NASDAQ:ABCL) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of AbCellera Biologics (NASDAQ:ABCL) from a sell rating to a hold rating in a report published on Monday morning.

Other equities analysts have also issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. Leerink Partnrs cut shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Leerink Partners reissued a “market perform” rating and set a $4.00 price target on shares of AbCellera Biologics in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.75.

AbCellera Biologics Stock Up 3.4%

ABCL opened at $4.52 on Monday. The firm has a market cap of $1.35 billion, a P/E ratio of -7.93 and a beta of 0.73. The business’s fifty day simple moving average is $3.74 and its 200 day simple moving average is $4.38. AbCellera Biologics has a 52 week low of $1.89 and a 52 week high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). AbCellera Biologics had a negative net margin of 493.42% and a negative return on equity of 17.21%. The firm had revenue of $6.51 million during the quarter, compared to analyst estimates of $6.33 million. As a group, equities analysts expect that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Institutional Trading of AbCellera Biologics

Several institutional investors have recently made changes to their positions in ABCL. Creative Planning raised its position in shares of AbCellera Biologics by 6.9% in the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock worth $141,000 after buying an additional 2,656 shares during the period. Raymond James Financial Inc. increased its stake in AbCellera Biologics by 17.0% during the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock worth $96,000 after acquiring an additional 4,070 shares during the last quarter. Green Alpha Advisors LLC raised its holdings in shares of AbCellera Biologics by 21.2% in the 4th quarter. Green Alpha Advisors LLC now owns 27,592 shares of the company’s stock worth $94,000 after purchasing an additional 4,817 shares during the period. Hollencrest Capital Management acquired a new position in shares of AbCellera Biologics in the 3rd quarter valued at about $25,000. Finally, XML Financial LLC lifted its stake in shares of AbCellera Biologics by 21.8% in the 3rd quarter. XML Financial LLC now owns 42,025 shares of the company’s stock valued at $211,000 after purchasing an additional 7,525 shares in the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

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.