AbCellera Biologics Inc. (NASDAQ:ABCL) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) have earned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $7.80.

Several equities analysts have weighed in on the company. JonesTrading assumed coverage on AbCellera Biologics in a report on Friday, April 10th. They set a “buy” rating and a $11.00 price target for the company. Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Cantor Fitzgerald assumed coverage on AbCellera Biologics in a report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Monday, April 20th.

AbCellera Biologics Price Performance

NASDAQ ABCL opened at $8.12 on Tuesday. The stock has a market capitalization of $2.48 billion, a PE ratio of -16.92 and a beta of 1.17. The business has a 50 day simple moving average of $5.15 and a two-hundred day simple moving average of $4.14. AbCellera Biologics has a 1-year low of $2.74 and a 1-year high of $8.42.

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

Hedge Funds Weigh In On AbCellera Biologics

Several institutional investors have recently added to or reduced their stakes in ABCL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of AbCellera Biologics in the 4th quarter valued at approximately $26,938,000. Two Sigma Investments LP lifted its stake in shares of AbCellera Biologics by 25.9% in the 3rd quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company’s stock valued at $26,031,000 after purchasing an additional 1,064,290 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of AbCellera Biologics by 1,636.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,344,485 shares of the company’s stock valued at $14,858,000 after purchasing an additional 4,094,268 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of AbCellera Biologics by 13.9% in the 1st quarter. Bank of America Corp DE now owns 2,999,936 shares of the company’s stock valued at $10,470,000 after purchasing an additional 367,064 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in shares of AbCellera Biologics by 146.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,796,010 shares of the company’s stock valued at $6,142,000 after purchasing an additional 1,065,888 shares during the last quarter. Hedge funds and other institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

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.