Brokerages Set AbCellera Biologics Inc. (NASDAQ:ABCL) PT at $7.75

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) have been given an average rating of “Hold” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $7.75.

Several equities analysts recently commented on the stock. Wall Street Zen downgraded shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Leerink Partnrs lowered AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Stifel Nicolaus cut their target price on AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Wednesday, October 8th. Finally, Leerink Partners restated a “market perform” rating and set a $4.00 price objective on shares of AbCellera Biologics in a report on Friday, November 7th.

Hedge Funds Weigh In On AbCellera Biologics

A number of hedge funds have recently added to or reduced their stakes in the stock. Creative Planning increased its position in AbCellera Biologics by 16.4% during the 3rd quarter. Creative Planning now owns 47,733 shares of the company’s stock valued at $240,000 after purchasing an additional 6,730 shares during the period. Lazard Asset Management LLC increased its holdings in shares of AbCellera Biologics by 27.9% during the 3rd quarter. Lazard Asset Management LLC now owns 652,096 shares of the company’s stock valued at $3,280,000 after purchasing an additional 142,302 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of AbCellera Biologics by 37.0% during the 3rd quarter. Raymond James Financial Inc. now owns 38,418 shares of the company’s stock valued at $193,000 after acquiring an additional 10,369 shares during the period. Two Sigma Investments LP lifted its position in shares of AbCellera Biologics by 25.9% during the 3rd quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company’s stock valued at $26,031,000 after buying an additional 1,064,290 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in AbCellera Biologics by 615.6% in the 3rd quarter. Squarepoint Ops LLC now owns 102,471 shares of the company’s stock valued at $515,000 after buying an additional 88,152 shares in the last quarter. 61.42% of the stock is currently owned by institutional investors.

AbCellera Biologics Stock Up 1.9%

Shares of ABCL opened at $3.69 on Monday. The business has a fifty day moving average of $5.07 and a 200 day moving average of $4.03. The company has a market cap of $1.10 billion, a PE ratio of -6.47 and a beta of 0.70. AbCellera Biologics has a 52-week low of $1.89 and a 52-week high of $6.51.

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

AbCellera Biologics Company Profile

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.