AbCellera Biologics Inc. (NASDAQ:ABCL) Stock Has Average Target Price of $13.38 According to Brokerages

AbCellera Biologics Inc. (NASDAQ:ABCL) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $13.38.

Several equities research analysts have weighed in on ABCL shares. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Tuesday, July 7th. Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Stifel Nicolaus increased their price target on AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. assumed coverage on AbCellera Biologics in a report on Tuesday, September 29th. They issued an “overweight” rating and a $17.00 price target for the company.

AbCellera Biologics Stock Performance

ABCL stock opened at $13.74 on Thursday. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of -25.44 and a beta of 1.41. The firm has a 50-day simple moving average of $10.65 and a two-hundred day simple moving average of $7.02. AbCellera Biologics has a one year low of $2.74 and a one year high of $15.02.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The firm had revenue of $4.05 million during the quarter, compared to analysts’ expectations of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. As a group, equities analysts predict that AbCellera Biologics will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ABCL. Bank of America Corp DE acquired a new stake in shares of AbCellera Biologics during the second quarter worth $48,211,000. BlackRock Inc. acquired a new position in shares of AbCellera Biologics in the 2nd quarter valued at $29,872,000. Headlands Technologies LLC raised its stake in AbCellera Biologics by 34.8% in the 2nd quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock worth $1,933,000 after acquiring an additional 63,596 shares during the last quarter. Man Group plc purchased a new position in AbCellera Biologics in the 2nd quarter worth $1,797,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in AbCellera Biologics during the 2nd quarter worth about $1,663,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

AbCellera Biologics Inc is a biotechnology company that develops technologies for the discovery and development of antibody medicines. Its platform combines high-throughput screening, single-cell analysis, microfluidics, data science and machine learning to identify antibodies with potential therapeutic applications.

The company works with pharmaceutical and biotechnology partners worldwide, helping them discover and advance antibody candidates for areas such as cancer, infectious diseases, autoimmune disorders and other medical conditions.