AbCellera Biologics (NASDAQ:ABCL) Trading Up 11.6% – Time to Buy?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price rose 11.6% during mid-day trading on Thursday . The company traded as high as $4.85 and last traded at $4.7750. Approximately 2,766,228 shares changed hands during trading, a decline of 44% from the average daily volume of 4,901,405 shares. The stock had previously closed at $4.28.

Analyst Ratings Changes

A number of research firms have issued reports on ABCL. Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. Finally, Leerink Partners lowered shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.75.

AbCellera Biologics Trading Up 8.4%

The business’s 50-day simple moving average is $3.73 and its 200 day simple moving average is $4.40. The company has a market capitalization of $1.39 billion, a P/E ratio of -8.14 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate 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 return on equity of 17.21% and a negative net margin of 493.42%. As a group, sell-side analysts predict that AbCellera Biologics Inc. will post -0.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in AbCellera Biologics during the third quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of AbCellera Biologics during the second quarter worth approximately $35,000. J2 Capital Management Inc bought a new stake in shares of AbCellera Biologics in the second quarter valued at approximately $45,000. Lantern Wealth Advisors LLC acquired a new stake in shares of AbCellera Biologics in the second quarter worth $51,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of AbCellera Biologics in the third quarter worth $52,000. Institutional investors own 61.42% of the company’s stock.

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.