AbCellera Biologics Inc. (NASDAQ:ABCL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

AbCellera Biologics Inc. (NASDAQ:ABCL) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $7.80.

Several research analysts recently commented on the company. JonesTrading assumed coverage on AbCellera Biologics in a research note on Friday, April 10th. They set a “buy” rating and a $11.00 target price for the company. Cantor Fitzgerald assumed coverage on AbCellera Biologics in a research note on Tuesday, May 5th. They set an “overweight” rating and a $7.00 target price for the company. Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Monday, April 20th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AssuredPartners Investment Advisors LLC purchased a new position in AbCellera Biologics in the fourth quarter worth approximately $34,000. Engineers Gate Manager LP purchased a new position in AbCellera Biologics in the fourth quarter worth approximately $38,000. Allworth Financial LP lifted its stake in AbCellera Biologics by 857.0% in the fourth quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock worth $39,000 after acquiring an additional 10,096 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in AbCellera Biologics in the first quarter worth approximately $46,000. Finally, Magnetar Financial LLC acquired a new stake in AbCellera Biologics in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Stock Up 3.8%

Shares of ABCL opened at $5.74 on Tuesday. AbCellera Biologics has a fifty-two week low of $2.74 and a fifty-two week high of $6.79. The firm’s 50 day moving average price is $4.85 and its 200 day moving average price is $4.03. The company has a market cap of $1.75 billion, a P/E ratio of -11.96 and a beta of 1.17.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.08. AbCellera Biologics had a negative net margin of 181.75% and a negative return on equity of 14.86%. The firm had revenue of $8.32 million for the quarter, compared to the consensus estimate of $5.41 million. During the same period in the prior year, the firm earned ($0.15) EPS. Research analysts forecast 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.