AbCellera Biologics (NASDAQ:ABCL) Sees Large Volume Increase

AbCellera Biologics Inc. (NASDAQ:ABCL) shares saw an uptick in trading volume on Tuesday . 2,099,780 shares were traded during trading, an increase of 34% from the previous session’s volume of 1,562,375 shares.The stock last traded at $2.40 and had previously closed at $2.40.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. KeyCorp reiterated an “overweight” rating and set a $5.00 target price (down previously from $7.00) on shares of AbCellera Biologics in a research report on Thursday, July 11th. Benchmark downgraded AbCellera Biologics from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.20.

AbCellera Biologics Trading Down 0.4 %

The firm has a market capitalization of $788.06 million, a PE ratio of -5.27 and a beta of 0.37. The stock has a 50 day simple moving average of $2.80 and a 200 day simple moving average of $3.59.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $10.12 million. AbCellera Biologics had a negative net margin of 463.77% and a negative return on equity of 13.40%. AbCellera Biologics’s revenue was down 27.7% on a year-over-year basis. During the same period last year, the company posted ($0.11) EPS. As a group, equities analysts anticipate that AbCellera Biologics Inc. will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Baker BROS. Advisors LP raised its holdings in shares of AbCellera Biologics by 20.1% during the first quarter. Baker BROS. Advisors LP now owns 27,525,640 shares of the company’s stock worth $124,691,000 after purchasing an additional 4,615,887 shares during the last quarter. Renaissance Technologies LLC grew its position in AbCellera Biologics by 16.0% in the second quarter. Renaissance Technologies LLC now owns 1,728,603 shares of the company’s stock worth $5,117,000 after acquiring an additional 239,000 shares during the period. Intellectus Partners LLC lifted its position in AbCellera Biologics by 0.7% in the second quarter. Intellectus Partners LLC now owns 545,533 shares of the company’s stock valued at $1,615,000 after buying an additional 3,750 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of AbCellera Biologics during the second quarter worth $923,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in AbCellera Biologics by 104.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 308,567 shares of the company’s stock worth $913,000 after purchasing an additional 158,000 shares during the period. Hedge funds and other institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

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.