AbCellera Biologics Inc. (NASDAQ:ABCL) Receives Consensus Rating of “Hold” from Analysts

AbCellera Biologics Inc. (NASDAQ:ABCL) has earned an average rating of “Hold” from the five brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.75.

Several research firms recently commented on ABCL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, January 21st. Wall Street Zen upgraded AbCellera Biologics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th.

AbCellera Biologics Stock Performance

Shares of ABCL stock opened at $3.49 on Friday. AbCellera Biologics has a 52 week low of $1.89 and a 52 week high of $6.51. The company’s 50 day moving average price is $3.65 and its two-hundred day moving average price is $4.16. The company has a market capitalization of $1.06 billion, a P/E ratio of -7.12 and a beta of 0.84.

AbCellera Biologics (NASDAQ:ABCL) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.15. AbCellera Biologics had a negative net margin of 198.37% and a negative return on equity of 15.05%. The company had revenue of $44.85 million during the quarter, compared to analysts’ expectations of $6.31 million. Analysts forecast that AbCellera Biologics will post -0.59 earnings per share for the current year.

Institutional Investors Weigh In On AbCellera Biologics

A number of hedge funds and other institutional investors have recently bought and sold shares of ABCL. Hollencrest Capital Management bought a new stake in AbCellera Biologics in the 3rd quarter valued at approximately $25,000. AssuredPartners Investment Advisors LLC bought a new position in shares of AbCellera Biologics during the 4th quarter worth approximately $34,000. Engineers Gate Manager LP acquired a new stake in shares of AbCellera Biologics in the fourth quarter valued at approximately $38,000. Allworth Financial LP lifted its position in shares of AbCellera Biologics by 857.0% in the fourth quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock worth $39,000 after purchasing an additional 10,096 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in shares of AbCellera Biologics in the fourth quarter worth $49,000. Institutional investors and hedge funds 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.