AbCellera Biologics Inc. (NASDAQ:ABCL) Given Consensus Rating of “Moderate Buy” by Brokerages

AbCellera Biologics Inc. (NASDAQ:ABCL) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $7.80.

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Monday, April 20th. Cantor Fitzgerald began coverage on AbCellera Biologics in a research report on Tuesday, May 5th. They set an “overweight” rating and a $7.00 price objective on the stock. JonesTrading began coverage on AbCellera Biologics in a research report on Friday, April 10th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th.

Hedge Funds Weigh In On AbCellera Biologics

A number of institutional investors have recently added to or reduced their stakes in ABCL. Hollencrest Capital Management purchased a new position in AbCellera Biologics during the third quarter worth approximately $25,000. AssuredPartners Investment Advisors LLC purchased a new position in AbCellera Biologics during the fourth quarter worth approximately $34,000. Engineers Gate Manager LP purchased a new position in AbCellera Biologics during the fourth quarter worth approximately $38,000. Allworth Financial LP lifted its position in AbCellera Biologics by 857.0% during the fourth quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock worth $39,000 after buying an additional 10,096 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in AbCellera Biologics during the first quarter worth approximately $46,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

Shares of NASDAQ:ABCL opened at $5.73 on Friday. The business’s 50 day moving average price is $4.10 and its 200-day moving average price is $3.80. The firm has a market capitalization of $1.75 billion, a PE ratio of -11.94 and a beta of 1.02. AbCellera Biologics has a 1 year low of $1.98 and a 1 year high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.08. The firm had revenue of $8.32 million for the quarter, compared to analyst estimates of $5.41 million. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.During the same period in the previous year, the company posted ($0.15) earnings per share. As a group, analysts expect that AbCellera Biologics will post -0.67 earnings per share for the current year.

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.