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

AbCellera Biologics Inc. (NASDAQ:ABCL) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $8.00.

Several equities analysts recently commented on the stock. Cantor Fitzgerald began coverage on shares of AbCellera Biologics in a research note on Tuesday, May 5th. They set an “overweight” rating and a $7.00 target price for the company. JonesTrading began coverage on AbCellera Biologics in a report on Friday, April 10th. They set a “buy” rating and a $11.00 target price on the stock. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Tuesday, July 7th. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Friday, July 17th. Finally, Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th.

AbCellera Biologics Price Performance

NASDAQ:ABCL opened at $5.73 on Friday. AbCellera Biologics has a 12-month low of $2.74 and a 12-month high of $8.44. The firm has a market capitalization of $1.75 billion, a P/E ratio of -11.94 and a beta of 1.14. The business has a 50 day simple moving average of $6.02 and a 200 day simple moving average of $4.55.

AbCellera Biologics (NASDAQ:ABCL) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $8.31 million during the quarter, compared to analyst estimates of $5.41 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. Research analysts anticipate that AbCellera Biologics will post -0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Large investors have recently modified their holdings of the stock. Invesco Ltd. increased its stake in AbCellera Biologics by 114.6% in the first quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock valued at $54,000 after acquiring an additional 12,893 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of AbCellera Biologics by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 363,188 shares of the company’s stock valued at $1,246,000 after purchasing an additional 12,301 shares during the last quarter. Creative Planning grew its holdings in AbCellera Biologics by 6.9% during the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock worth $141,000 after acquiring an additional 2,656 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of AbCellera Biologics by 17.0% during the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock worth $96,000 after buying an additional 4,070 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in AbCellera Biologics by 1,304.5% in the second quarter. Bank of America Corp DE now owns 224,365 shares of the company’s stock valued at $770,000 after purchasing an additional 208,390 shares in the last quarter. 61.42% of the stock is owned by institutional investors.

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.