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

AbCellera Biologics Inc. (NASDAQ:ABCL) has been given a consensus recommendation of “Hold” by the five research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $7.75.

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

AbCellera Biologics Price Performance

Shares of ABCL stock opened at $3.53 on Friday. The stock’s fifty day moving average price is $3.62 and its 200 day moving average price is $4.14. AbCellera Biologics has a 1-year low of $1.89 and a 1-year high of $6.51. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -7.20 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) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. The company had revenue of $44.85 million during the quarter, compared to analysts’ expectations of $6.31 million. AbCellera Biologics had a negative return on equity of 15.05% and a negative net margin of 198.37%. As a group, equities research analysts anticipate that AbCellera Biologics will post -0.59 earnings per share for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State of Michigan Retirement System increased its position in shares of AbCellera Biologics by 712.6% in the 3rd quarter. State of Michigan Retirement System now owns 400,000 shares of the company’s stock valued at $2,012,000 after acquiring an additional 350,775 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in AbCellera Biologics during the 3rd quarter worth about $1,317,000. DNB Asset Management AS acquired a new stake in AbCellera Biologics during the 3rd quarter worth about $3,301,000. Norges Bank purchased a new stake in AbCellera Biologics during the 2nd quarter valued at about $2,164,000. Finally, Bank of Montreal Can grew its stake in AbCellera Biologics by 46.2% during the 2nd quarter. Bank of Montreal Can now owns 70,089 shares of the company’s stock valued at $240,000 after purchasing an additional 22,155 shares during the last quarter. 61.42% of the stock is currently owned by institutional investors and hedge funds.

About AbCellera Biologics

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.