AbCellera Biologics Inc. (NASDAQ:ABCL) Receives $7.80 Consensus Target Price from Brokerages

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $7.80.

A number of equities research analysts have issued reports on ABCL shares. JonesTrading started coverage on shares of AbCellera Biologics in a report on Friday, April 10th. They set a “buy” rating and a $11.00 price objective for the company. Cantor Fitzgerald started coverage on shares of AbCellera Biologics in a report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Monday, April 20th. Finally, Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th.

AbCellera Biologics Stock Up 11.4%

Shares of AbCellera Biologics stock opened at $6.37 on Friday. The stock’s 50-day simple moving average is $4.38 and its 200-day simple moving average is $3.88. AbCellera Biologics has a 52 week low of $2.33 and a 52 week high of $6.79. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -13.27 and a beta of 1.18.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.08. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.The business had revenue of $8.32 million for the quarter, compared to the consensus estimate of $5.41 million. During the same period in the previous year, the business earned ($0.15) earnings per share. On average, equities analysts expect that AbCellera Biologics will post -0.67 earnings per share for the current year.

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors have recently added to or reduced their stakes in ABCL. State of Michigan Retirement System lifted its position in shares of AbCellera Biologics by 712.6% in the third quarter. State of Michigan Retirement System now owns 400,000 shares of the company’s stock worth $2,012,000 after buying an additional 350,775 shares in the last quarter. DNB Asset Management AS purchased a new stake in shares of AbCellera Biologics in the third quarter worth about $3,301,000. Tudor Investment Corp ET AL purchased a new stake in shares of AbCellera Biologics in the third quarter worth about $3,673,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of AbCellera Biologics by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,546 shares of the company’s stock worth $50,000 after buying an additional 2,993 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its position in shares of AbCellera Biologics by 21.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 23,000 shares of the company’s stock worth $79,000 after buying an additional 4,000 shares in the last quarter. 61.42% of the stock is owned by hedge funds and other 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.