AbCellera Biologics (NASDAQ:ABCL) Stock Price Up 7%

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) rose 7% on Friday . The company traded as high as $4.20 and last traded at $4.12. Approximately 754,245 shares traded hands during trading, a decline of 45% from the average daily volume of 1,366,338 shares. The stock had previously closed at $3.85.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ABCL shares. Stifel Nicolaus cut their price objective on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Thursday, February 22nd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $15.86.

AbCellera Biologics Stock Performance

The firm has a market capitalization of $1.18 billion, a PE ratio of -7.75 and a beta of 0.42. The business’s fifty day simple moving average is $4.44 and its 200-day simple moving average is $4.79.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. The company had revenue of $9.18 million during the quarter, compared to the consensus estimate of $9.58 million. Sell-side analysts expect that AbCellera Biologics Inc. will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABCL. Trexquant Investment LP boosted its position in shares of AbCellera Biologics by 458.5% during the 3rd quarter. Trexquant Investment LP now owns 272,158 shares of the company’s stock valued at $1,252,000 after acquiring an additional 223,430 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of AbCellera Biologics by 143.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 358,400 shares of the company’s stock worth $1,649,000 after buying an additional 211,000 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in shares of AbCellera Biologics by 199.6% in the 3rd quarter. Dark Forest Capital Management LP now owns 278,618 shares of the company’s stock worth $1,282,000 after buying an additional 185,606 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of AbCellera Biologics by 1,268.1% during the 3rd quarter. GSA Capital Partners LLP now owns 146,190 shares of the company’s stock valued at $672,000 after buying an additional 135,504 shares in the last quarter. Finally, Graham Capital Management L.P. lifted its holdings in shares of AbCellera Biologics by 149.4% in the 3rd quarter. Graham Capital Management L.P. now owns 180,389 shares of the company’s stock valued at $830,000 after acquiring an additional 108,060 shares during the last quarter. 61.42% of the stock is owned by institutional investors.

About AbCellera Biologics

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.