AbCellera Biologics (NASDAQ:ABCL) Stock Rating Upgraded by Wall Street Zen

AbCellera Biologics (NASDAQ:ABCL) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

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

AbCellera Biologics Stock Down 3.8%

ABCL opened at $3.58 on Friday. AbCellera Biologics has a 52 week low of $1.89 and a 52 week high of $6.51. The stock has a market cap of $1.07 billion, a PE ratio of -6.28 and a beta of 0.73. The business has a 50 day moving average of $4.14 and a 200-day moving average of $4.35.

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

Institutional Investors Weigh In On AbCellera Biologics

Several large investors have recently bought and sold shares of the business. Invesco Ltd. raised its position in AbCellera Biologics by 114.6% in the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock worth $54,000 after buying an additional 12,893 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of AbCellera Biologics by 248.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,671,063 shares of the company’s stock valued at $34,946,000 after purchasing an additional 11,171,063 shares during the last quarter. Ballentine Partners LLC bought a new position in AbCellera Biologics during the second quarter valued at approximately $81,000. XML Financial LLC purchased a new stake in AbCellera Biologics in the second quarter worth approximately $118,000. Finally, J2 Capital Management Inc purchased a new stake in AbCellera Biologics in the second quarter worth approximately $45,000. 61.42% of the stock is currently owned by institutional investors.

About AbCellera Biologics

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.