AbCellera Biologics (NASDAQ:ABCL) Stock Price Up 10.6% – Should You Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price traded up 10.6% during trading on Tuesday . The company traded as high as $2.76 and last traded at $2.78. 1,724,165 shares traded hands during trading, a decline of 58% from the average session volume of 4,092,888 shares. The stock had previously closed at $2.51.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. KeyCorp boosted their price target on shares of AbCellera Biologics from $4.00 to $5.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Truist Financial reduced their target price on AbCellera Biologics from $28.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. Benchmark reiterated a “hold” rating on shares of AbCellera Biologics in a report on Monday, March 3rd. Finally, Stifel Nicolaus decreased their target price on shares of AbCellera Biologics from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 28th.

AbCellera Biologics Stock Performance

The firm has a market capitalization of $842.75 million, a price-to-earnings ratio of -4.65 and a beta of 0.36. The business has a 50 day simple moving average of $2.22 and a 200-day simple moving average of $2.65.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.02. AbCellera Biologics had a negative net margin of 533.32% and a negative return on equity of 15.73%. The business had revenue of $4.24 million during the quarter, compared to analyst estimates of $7.12 million. Equities analysts predict that AbCellera Biologics Inc. will post -0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ABCL. Salem Investment Counselors Inc. lifted its holdings in shares of AbCellera Biologics by 7.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 78,800 shares of the company’s stock worth $176,000 after acquiring an additional 5,150 shares during the period. Pier 88 Investment Partners LLC raised its position in AbCellera Biologics by 2.9% in the first quarter. Pier 88 Investment Partners LLC now owns 243,790 shares of the company’s stock valued at $544,000 after purchasing an additional 6,890 shares during the period. DKM Wealth Management Inc. acquired a new position in AbCellera Biologics during the 4th quarter worth approximately $29,000. Stratos Wealth Advisors LLC purchased a new position in shares of AbCellera Biologics in the first quarter valued at $27,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of AbCellera Biologics in the fourth quarter worth about $36,000. 61.42% of the stock is owned by hedge funds and other institutional investors.

About AbCellera Biologics

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company’s preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.