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

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) have received a consensus recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have covered the stock in the last year is $15.86.

A number of analysts recently issued reports on ABCL shares. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Thursday, February 22nd. Stifel Nicolaus decreased their target price on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st.

AbCellera Biologics Stock Performance

NASDAQ:ABCL opened at $3.78 on Wednesday. The stock has a 50-day simple moving average of $4.50 and a 200-day simple moving average of $4.80. The stock has a market cap of $1.11 billion, a P/E ratio of -7.27 and a beta of 0.36. AbCellera Biologics has a 1 year low of $3.62 and a 1 year high of $8.05.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Tuesday, February 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $9.18 million during the quarter, compared to analyst estimates of $9.58 million. AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. On average, equities research analysts predict that AbCellera Biologics will post -0.66 EPS for the current year.

Institutional Trading of AbCellera Biologics

A number of hedge funds have recently added to or reduced their stakes in the stock. Stratos Wealth Advisors LLC purchased a new position in shares of AbCellera Biologics during the 3rd quarter worth approximately $223,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of AbCellera Biologics by 33.8% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 62,759 shares of the company’s stock worth $289,000 after buying an additional 15,870 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of AbCellera Biologics by 96.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,423 shares of the company’s stock worth $34,000 after buying an additional 3,638 shares in the last quarter. Duality Advisers LP raised its stake in shares of AbCellera Biologics by 30.4% during the 3rd quarter. Duality Advisers LP now owns 162,200 shares of the company’s stock worth $746,000 after buying an additional 37,825 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of AbCellera Biologics by 28.2% during the 3rd quarter. Principal Financial Group Inc. now owns 92,971 shares of the company’s stock worth $428,000 after buying an additional 20,450 shares in the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.

About AbCellera Biologics

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.