AbCellera Biologics (NASDAQ:ABCL) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

AbCellera Biologics (NASDAQ:ABCL) had its price objective hoisted by equities researchers at Cantor Fitzgerald from $11.00 to $12.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 73.16% from the stock’s current price.

Several other brokerages have also weighed in on ABCL. JonesTrading assumed coverage on shares of AbCellera Biologics in a research report on Friday, April 10th. They set a “buy” rating and a $11.00 target price on the stock. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday, July 7th. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, AbCellera Biologics presently has a consensus rating of “Moderate Buy” and an average price target of $9.40.

AbCellera Biologics Trading Up 6.1%

ABCL opened at $6.93 on Thursday. The stock has a market cap of $2.12 billion, a PE ratio of -12.83 and a beta of 1.20. AbCellera Biologics has a 1 year low of $2.74 and a 1 year high of $8.44. The stock’s 50 day simple moving average is $6.22 and its 200-day simple moving average is $4.69.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The business had revenue of $4.05 million for the quarter, compared to analyst estimates of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. Equities analysts forecast that AbCellera Biologics will post -0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ABCL. Creative Planning boosted its position in AbCellera Biologics by 6.9% during the second quarter. Creative Planning now owns 41,003 shares of the company’s stock valued at $141,000 after purchasing an additional 2,656 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of AbCellera Biologics by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,546 shares of the company’s stock worth $50,000 after acquiring an additional 2,993 shares during the last quarter. Advisory Services Network LLC raised its stake in AbCellera Biologics by 12.9% in the 4th quarter. Advisory Services Network LLC now owns 29,664 shares of the company’s stock valued at $101,000 after acquiring an additional 3,386 shares during the period. Raymond James Financial Inc. raised its stake in AbCellera Biologics by 17.0% in the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock valued at $96,000 after acquiring an additional 4,070 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings in AbCellera Biologics by 1.2% during the 4th quarter. Osaic Holdings Inc. now owns 347,321 shares of the company’s stock valued at $1,188,000 after purchasing an additional 4,246 shares during the last quarter. 61.42% of the stock is owned by institutional investors.

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.