AbCellera Biologics (NASDAQ:ABCL) Upgraded by Wall Street Zen to “Hold” Rating

AbCellera Biologics (NASDAQ:ABCL) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities analysts have also commented on the company. Leerink Partnrs lowered AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a report on Wednesday, October 8th. Finally, Leerink Partners reissued a “market perform” rating and issued a $4.00 target price on shares of AbCellera Biologics in a research note on Friday, November 7th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AbCellera Biologics has a consensus rating of “Hold” and an average target price of $7.75.

AbCellera Biologics Stock Down 3.8%

NASDAQ:ABCL opened at $3.58 on Friday. The firm’s fifty day simple moving average is $4.14 and its 200 day simple moving average is $4.33. AbCellera Biologics has a twelve month low of $1.89 and a twelve month high of $6.51. The stock has a market cap of $1.07 billion, a P/E ratio of -6.28 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). AbCellera Biologics had a negative net margin of 493.42% and a negative return on equity of 17.21%. The company had revenue of $6.51 million for the quarter, compared to analysts’ expectations of $6.33 million. On average, analysts expect that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Institutional Trading of AbCellera Biologics

Several hedge funds have recently bought and sold shares of the stock. Tudor Investment Corp ET AL bought a new position in AbCellera Biologics during the 3rd quarter valued at about $3,673,000. Advisory Services Network LLC bought a new stake in shares of AbCellera Biologics during the third quarter worth $132,000. Caxton Associates LLP purchased a new stake in shares of AbCellera Biologics during the third quarter valued at $1,798,000. Voleon Capital Management LP bought a new position in AbCellera Biologics in the 3rd quarter worth about $56,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in AbCellera Biologics during the 3rd quarter valued at $87,000. Institutional investors 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.