Brokerages Set AbCellera Biologics Inc. (NASDAQ:ABCL) Target Price at $15.86

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) have been assigned a consensus recommendation of “Buy” from the seven analysts that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $16.00.

ABCL has been the subject of a number of research reports. Stifel Nicolaus reduced their target price on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Thursday, February 22nd.

AbCellera Biologics Stock Up 4.7 %

Shares of ABCL stock opened at $4.03 on Wednesday. The stock has a 50-day simple moving average of $4.44 and a 200 day simple moving average of $4.79. The stock has a market capitalization of $1.18 billion, a P/E ratio of -7.75 and a beta of 0.42. AbCellera Biologics has a fifty-two week low of $3.62 and a fifty-two week high of $8.05.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The business had revenue of $9.18 million for the quarter, compared to the consensus estimate of $9.58 million. AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. On average, sell-side analysts anticipate that AbCellera Biologics will post -0.66 earnings per share for the current year.

Institutional Trading of AbCellera Biologics

A number of hedge funds have recently modified their holdings of the business. Pacifica Partners Inc. raised its position in AbCellera Biologics by 82.9% during the fourth quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock valued at $28,000 after buying an additional 2,185 shares during the period. NBC Securities Inc. acquired a new position in shares of AbCellera Biologics in the 3rd quarter valued at about $30,000. China Universal Asset Management Co. Ltd. lifted its position in shares of AbCellera Biologics by 96.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,423 shares of the company’s stock worth $34,000 after purchasing an additional 3,638 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of AbCellera Biologics during the third quarter worth approximately $48,000. Finally, Signaturefd LLC grew its position in AbCellera Biologics by 306.3% during the fourth quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock valued at $61,000 after purchasing an additional 7,988 shares in the last quarter. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.