Wall Street Zen Upgrades AbCellera Biologics (NASDAQ:ABCL) to “Hold”

AbCellera Biologics (NASDAQ:ABCL) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Monday.

ABCL has been the topic of several other reports. Leerink Partners restated a “market perform” rating and set a $4.00 price objective on shares of AbCellera Biologics in a report on Friday, November 7th. Leerink Partnrs downgraded shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AbCellera Biologics presently has a consensus rating of “Hold” and an average target price of $7.75.

AbCellera Biologics Stock Performance

ABCL stock opened at $4.27 on Monday. AbCellera Biologics has a 1 year low of $1.89 and a 1 year high of $6.51. The stock has a 50-day simple moving average of $3.73 and a 200-day simple moving average of $4.38. The firm has a market cap of $1.28 billion, a P/E ratio of -7.49 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL) last posted its earnings results on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%.The firm had revenue of $6.51 million for the quarter, compared to analyst estimates of $6.33 million. On average, equities research analysts predict that AbCellera Biologics will post -0.59 EPS for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management bought a new position in AbCellera Biologics during the third quarter worth $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AbCellera Biologics during the second quarter worth $35,000. J2 Capital Management Inc acquired a new stake in shares of AbCellera Biologics during the second quarter worth $45,000. Lantern Wealth Advisors LLC bought a new position in shares of AbCellera Biologics in the 2nd quarter worth about $51,000. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of AbCellera Biologics in the 3rd quarter valued at about $52,000. 61.42% of the stock is owned by institutional investors and hedge funds.

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.