AbCellera Biologics Inc. (NASDAQ:ABCL) Stock Has Average Target Price of $13.89

AbCellera Biologics Inc. (NASDAQ:ABCL) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $14.60.

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. JPMorgan Chase & Co. began coverage on shares of AbCellera Biologics in a report on Tuesday, September 29th. They set an “overweight” rating and a $17.00 target price for the company. The Goldman Sachs Group began coverage on shares of AbCellera Biologics in a research report on Thursday, September 24th. They set a “neutral” rating and a $13.00 price target on the stock. Stifel Nicolaus lifted their target price on AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald increased their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th.

Institutional Trading of AbCellera Biologics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABCL. Blume Capital Management Inc. raised its stake in AbCellera Biologics by 22.7% during the third quarter. Blume Capital Management Inc. now owns 5,501 shares of the company’s stock valued at $80,000 after buying an additional 1,017 shares in the last quarter. AssuredPartners Investment Advisors LLC bought a new position in AbCellera Biologics during the 2nd quarter worth approximately $80,000. ProShare Advisors LLC lifted its holdings in AbCellera Biologics by 12.2% during the 3rd quarter. ProShare Advisors LLC now owns 11,235 shares of the company’s stock worth $164,000 after buying an additional 1,224 shares during the last quarter. Allworth Financial LP acquired a new position in shares of AbCellera Biologics in the 2nd quarter worth approximately $91,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of AbCellera Biologics in the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Stock Down 6.2%

Shares of NASDAQ ABCL opened at $12.27 on Monday. The business’s 50 day moving average price is $12.29 and its 200 day moving average price is $6.85. The firm has a market cap of $3.76 billion, a P/E ratio of -22.72 and a beta of 1.41. AbCellera Biologics has a 52 week low of $2.74 and a 52 week high of $15.02.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings results 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 business had revenue of $4.05 million for 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, research analysts expect that AbCellera Biologics will post -0.69 earnings per share for the current year.

About AbCellera Biologics

AbCellera Biologics Inc is a biotechnology company headquartered in Vancouver, British Columbia, that develops antibody-based medicines and provides antibody discovery services to pharmaceutical and biotechnology companies. Its platform is designed to identify therapeutic antibodies from immune cells and accelerate their progression from discovery through development.

The company combines high-throughput screening, microfluidics, single-cell analysis, automation, and artificial intelligence to evaluate large numbers of antibody candidates.