AbCellera Biologics (NASDAQ:ABCL) Sets New 52-Week High – What’s Next?

AbCellera Biologics Inc. (NASDAQ:ABCL)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.52 and last traded at $11.5250, with a volume of 4415068 shares trading hands. The stock had previously closed at $11.38.

Analyst Ratings Changes

ABCL has been the topic of several recent analyst reports. Stifel Nicolaus increased their price target on AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, July 7th. Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Cantor Fitzgerald upped their price objective on AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.83.

AbCellera Biologics Stock Performance

The firm has a market capitalization of $3.41 billion, a P/E ratio of -20.59 and a beta of 1.20. The stock’s 50 day simple moving average is $6.89 and its 200 day simple moving average is $5.01.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The company 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%. On average, analysts anticipate that AbCellera Biologics Inc. will post -0.68 earnings per share for the current year.

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ausdal Financial Partners Inc. purchased a new stake in shares of AbCellera Biologics in the 2nd quarter worth $119,000. Bank of America Corp DE purchased a new position in shares of AbCellera Biologics during the second quarter valued at $48,211,000. Man Group plc purchased a new position in shares of AbCellera Biologics during the second quarter valued at $1,797,000. Hsbc Holdings PLC bought a new stake in shares of AbCellera Biologics in the second quarter valued at about $929,000. Finally, Brandywine Managers LLC bought a new stake in shares of AbCellera Biologics in the second quarter valued at about $224,000. 61.42% of the stock is owned by institutional investors.

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.