The Goldman Sachs Group Begins Coverage on AbCellera Biologics (NASDAQ:ABCL)

Investment analysts at The Goldman Sachs Group started coverage on shares of AbCellera Biologics (NASDAQ:ABCL) in a report issued on Thursday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $13.00 price target on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 1.18% from the stock’s current price.

Several other analysts have also weighed in on the stock. Truist Financial lifted their target price on shares of AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Friday, July 17th. Stifel Nicolaus raised their target price on AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Finally, Cantor Fitzgerald boosted their target price on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.86.

AbCellera Biologics Stock Performance

Shares of ABCL traded up $0.46 during trading hours on Thursday, reaching $13.16. 2,228,977 shares of the company traded hands, compared to its average volume of 6,066,881. The stock’s fifty day moving average is $9.80 and its 200 day moving average is $6.67. The stock has a market cap of $4.03 billion, a P/E ratio of -24.31 and a beta of 1.32. AbCellera Biologics has a 1-year low of $2.74 and a 1-year high of $13.32.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The firm had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. On average, equities research analysts predict that AbCellera Biologics will post -0.68 EPS for the current year.

Hedge Funds Weigh In On AbCellera Biologics

A number of large investors have recently modified their holdings of ABCL. BlackRock Inc. acquired a new stake in shares of AbCellera Biologics in the 2nd quarter valued at approximately $29,872,000. Hsbc Holdings PLC bought a new stake in shares of AbCellera Biologics in the 2nd quarter valued at $929,000. SEB Asset Management AB acquired a new stake in AbCellera Biologics during the 1st quarter worth $1,188,000. Bank of America Corp DE bought a new position in AbCellera Biologics during the second quarter worth about $48,211,000. Finally, Citizens Financial Group Inc. RI acquired a new position in AbCellera Biologics in the second quarter valued at about $1,663,000. 61.42% of the stock is currently owned by institutional investors and hedge funds.

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.