AbCellera Biologics (NASDAQ:ABCL – Get Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.
A number of other brokerages also recently issued reports on ABCL. Cantor Fitzgerald boosted their price target on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Jefferies Financial Group assumed coverage on shares of AbCellera Biologics in a research report on Friday. They set a “buy” rating and a $21.00 price objective for the company. Stifel Nicolaus lifted their target price on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Tuesday, July 7th. Finally, UBS Group started coverage on shares of AbCellera Biologics in a report on Monday, October 12th. They issued a “buy” rating and a $18.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.60.
View Our Latest Stock Analysis on AbCellera Biologics
AbCellera Biologics Price Performance
NASDAQ:ABCL opened at $12.27 on Friday. AbCellera Biologics has a one year low of $2.74 and a one year high of $15.02. The company has a market cap of $3.76 billion, a PE ratio of -22.72 and a beta of 1.41. The firm’s 50 day simple moving average is $12.29 and its 200 day simple moving average is $6.85.
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 the consensus estimate of ($0.16) by ($0.02). The business had revenue of $4.05 million during the quarter, compared to analyst estimates of $7.85 million. AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. Equities research analysts expect that AbCellera Biologics will post -0.69 EPS for the current year.
Institutional Trading of AbCellera Biologics
Large investors have recently modified their holdings of the stock. Blume Capital Management Inc. grew its position in AbCellera Biologics by 22.7% in the 3rd quarter. Blume Capital Management Inc. now owns 5,501 shares of the company’s stock valued at $80,000 after purchasing an additional 1,017 shares during the period. AssuredPartners Investment Advisors LLC bought a new position in shares of AbCellera Biologics in the second quarter valued at $80,000. ProShare Advisors LLC lifted its stake in shares of AbCellera Biologics by 12.2% in the third quarter. ProShare Advisors LLC now owns 11,235 shares of the company’s stock valued at $164,000 after buying an additional 1,224 shares in the last quarter. Allworth Financial LP bought a new position in shares of AbCellera Biologics in the second quarter valued at $91,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of AbCellera Biologics during the first quarter valued at about $46,000. Institutional investors and hedge funds own 61.42% of the company’s stock.
AbCellera Biologics Company Profile
AbCellera Biologics Inc is a biotechnology company headquartered in Vancouver, British Columbia, that develops antibody-based medicines and provides antibody discovery services to pharmaceutical and biotechnology companies. Its platform is designed to identify therapeutic antibodies from immune cells and accelerate their progression from discovery through development.
The company combines high-throughput screening, microfluidics, single-cell analysis, automation, and artificial intelligence to evaluate large numbers of antibody candidates.
See Also
- Five stocks we like better than AbCellera Biologics
- MarketBeat Week in Review – 10/26 – 10/30
- Amazon’s Record Margins Couldn’t Stop the Sell-Off—Here’s Why
- DoorDash’s $17 Billion Bet on Instacart Faces a Long Regulatory Road Ahead
- FTC Puts A Wrinkle In the Cintas and UniFirst Merger
Receive News & Ratings for AbCellera Biologics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbCellera Biologics and related companies with MarketBeat.com's FREE daily email newsletter.
