AbCellera Biologics (NASDAQ:ABCL) Raised to “Hold” at Wall Street Zen

AbCellera Biologics (NASDAQ:ABCL) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other brokerages have also recently issued reports on ABCL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Friday, July 17th. Cantor Fitzgerald boosted their target price on AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Truist Financial increased their target price on AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Stifel Nicolaus raised their price target on AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, AbCellera Biologics currently has a consensus rating of “Moderate Buy” and an average target price of $12.83.

AbCellera Biologics Stock Performance

Shares of ABCL opened at $11.43 on Friday. AbCellera Biologics has a fifty-two week low of $2.74 and a fifty-two week high of $12.58. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -21.17 and a beta of 1.32. The firm has a 50 day moving average price of $8.43 and a 200-day moving average price of $5.77.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AssuredPartners Investment Advisors LLC purchased a new stake in AbCellera Biologics in the second quarter worth $80,000. Voleon Capital Management LP purchased a new position in AbCellera Biologics during the third quarter valued at $56,000. Engineers Gate Manager LP bought a new stake in shares of AbCellera Biologics during the 4th quarter valued at $38,000. Allworth Financial LP boosted its holdings in shares of AbCellera Biologics by 857.0% during the 4th quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock valued at $39,000 after buying an additional 10,096 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of AbCellera Biologics during the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

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.