AbCellera Biologics (NASDAQ:ABCL) Upgraded at UBS Group

UBS Group upgraded shares of AbCellera Biologics (NASDAQ:ABCL) to a strong-buy rating in a research report report published on Sunday,Zacks reports.

A number of other research analysts have also recently weighed in on the company. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Tuesday, July 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. Cantor Fitzgerald raised their target price on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Stifel Nicolaus raised their target price on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.89.

AbCellera Biologics Stock Down 0.2%

AbCellera Biologics stock opened at $12.61 on Friday. The business has a 50-day simple moving average of $11.66 and a two-hundred day simple moving average of $7.50. The company has a market cap of $3.87 billion, a P/E ratio of -23.35 and a beta of 1.41. AbCellera Biologics has a 52-week low of $2.74 and a 52-week high of $15.02.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The company had revenue of $4.05 million during the quarter, compared to analysts’ expectations of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. Research analysts anticipate that AbCellera Biologics will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Green Alpha Advisors LLC grew its stake in AbCellera Biologics by 4.6% during the third quarter. Green Alpha Advisors LLC now owns 22,930 shares of the company’s stock valued at $335,000 after acquiring an additional 1,014 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in AbCellera Biologics in the 2nd quarter worth $442,000. NewEdge Advisors LLC lifted its stake in AbCellera Biologics by 4,850.7% in the 2nd quarter. NewEdge Advisors LLC now owns 14,852 shares of the company’s stock worth $117,000 after purchasing an additional 14,552 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of AbCellera Biologics by 12.5% during the 2nd 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 during the last quarter. Finally, XML Financial LLC boosted its holdings in shares of AbCellera Biologics by 35.7% during the 2nd 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 during the last quarter. Institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

AbCellera Biologics Inc is a biotechnology company that develops technologies for the discovery and development of antibody medicines. Its platform combines high-throughput screening, single-cell analysis, microfluidics, data science and machine learning to identify antibodies with potential therapeutic applications.

The company works with pharmaceutical and biotechnology partners worldwide, helping them discover and advance antibody candidates for areas such as cancer, infectious diseases, autoimmune disorders and other medical conditions.