AbCellera Biologics (NASDAQ:ABCL – Get Free Report) was upgraded by UBS Group to a “strong-buy” rating in a research report issued on Sunday, Zacks reports.
A number of other analysts also recently issued reports on the stock. Truist Financial raised their price target on shares of AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, July 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. Stifel Nicolaus boosted their price objective on shares of AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Cantor Fitzgerald increased their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.89.
Check Out Our Latest Research Report on ABCL
AbCellera Biologics Trading Down 0.2%
AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. The business had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. On average, equities research analysts forecast that AbCellera Biologics will post -0.69 EPS for the current fiscal year.
Hedge Funds Weigh In On AbCellera Biologics
A number of institutional investors and hedge funds have recently modified their holdings of ABCL. Bank of America Corp DE purchased a new position in AbCellera Biologics in the second quarter worth about $48,211,000. BlackRock Inc. bought a new stake in shares of AbCellera Biologics during the 2nd quarter valued at about $29,872,000. Headlands Technologies LLC grew its stake in shares of AbCellera Biologics by 34.8% during the 2nd quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock valued at $1,933,000 after purchasing an additional 63,596 shares during the period. Man Group plc bought a new stake in shares of AbCellera Biologics during the 2nd quarter valued at about $1,797,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of AbCellera Biologics during the 2nd quarter valued at about $1,663,000. 61.42% of the stock is currently owned by hedge funds and other institutional investors.
AbCellera Biologics Company Profile
AbCellera Biologics Inc is a biotechnology company that develops technologies for the discovery and development of antibody medicines. Its platform combines high-throughput screening, single-cell analysis, microfluidics, data science and machine learning to identify antibodies with potential therapeutic applications.
The company works with pharmaceutical and biotechnology partners worldwide, helping them discover and advance antibody candidates for areas such as cancer, infectious diseases, autoimmune disorders and other medical conditions.
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