AbCellera Biologics Inc. (NASDAQ:ABCL) Receives $12.83 Average Price Target from Analysts

AbCellera Biologics Inc. (NASDAQ:ABCL) has been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $12.8333.

A number of equities research analysts recently weighed in on ABCL shares. Stifel Nicolaus lifted 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. Truist Financial upped their price target on AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Cantor Fitzgerald raised their price objective on AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Tuesday, July 7th. Finally, Wall Street Zen upgraded AbCellera Biologics from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th.

Institutional Investors Weigh In On AbCellera Biologics

Institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd acquired a new position in shares of AbCellera Biologics in the 2nd quarter valued at $442,000. NewEdge Advisors LLC lifted its stake in AbCellera Biologics by 4,850.7% during the second quarter. NewEdge Advisors LLC now owns 14,852 shares of the company’s stock worth $117,000 after purchasing an additional 14,552 shares during the period. HighTower Advisors LLC boosted its holdings in AbCellera Biologics by 12.5% during the second quarter. HighTower Advisors LLC now owns 107,933 shares of the company’s stock valued at $847,000 after purchasing an additional 12,000 shares in the last quarter. XML Financial LLC boosted its holdings in AbCellera Biologics by 35.7% during the second quarter. XML Financial LLC now owns 57,025 shares of the company’s stock valued at $448,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of AbCellera Biologics by 34.8% in the 2nd quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock valued at $1,933,000 after purchasing an additional 63,596 shares during the period. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

NASDAQ ABCL opened at $10.46 on Friday. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -19.37 and a beta of 1.32. The company’s fifty day moving average is $8.68 and its two-hundred day moving average is $6.00. AbCellera Biologics has a 52-week low of $2.74 and a 52-week high of $12.58.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%.The company had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. As a group, sell-side analysts expect that AbCellera Biologics will post -0.68 earnings per share for the current fiscal year.

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.