AbCellera Biologics Inc. (NASDAQ:ABCL – Get Free Report) has received an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $14.60.
A number of research firms have weighed in on ABCL. Jefferies Financial Group assumed coverage on shares of AbCellera Biologics in a research report on Friday. They issued a “buy” rating and a $21.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of AbCellera Biologics in a report on Tuesday, September 29th. They set an “overweight” rating and a $17.00 price objective for the company. Cantor Fitzgerald upped their target price on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Stifel Nicolaus increased their price target on shares of AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group started coverage on AbCellera Biologics in a research note on Thursday, September 24th. They set a “neutral” rating and a $13.00 price objective on the stock.
Get Our Latest Analysis on AbCellera Biologics
AbCellera Biologics Price Performance
Shares of NASDAQ:ABCL opened at $12.27 on Monday. The company has a 50 day moving average of $12.29 and a two-hundred day moving average of $6.85. AbCellera Biologics has a 52-week low of $2.74 and a 52-week high of $15.02. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of -22.72 and a beta of 1.59.
AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $4.05 million during the quarter, compared to analysts’ expectations of $7.85 million. On average, equities analysts anticipate that AbCellera Biologics will post -0.69 earnings per share for the current year.
Institutional Investors Weigh In On AbCellera Biologics
A number of institutional investors have recently made changes to their positions in ABCL. Mirae Asset Global Investments Co. Ltd. acquired a new position in AbCellera Biologics in the third quarter worth $242,000. ProShare Advisors LLC increased its stake in AbCellera Biologics by 12.2% during the third quarter. ProShare Advisors LLC now owns 11,235 shares of the company’s stock valued at $164,000 after purchasing an additional 1,224 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of AbCellera Biologics by 21.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 59,126 shares of the company’s stock worth $876,000 after purchasing an additional 10,525 shares during the period. Blume Capital Management Inc. lifted its position in shares of AbCellera Biologics by 22.7% in the 3rd quarter. Blume Capital Management Inc. now owns 5,501 shares of the company’s stock worth $80,000 after buying an additional 1,017 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of AbCellera Biologics by 13.7% in the 3rd quarter. SBI Securities Co. Ltd. now owns 14,272 shares of the company’s stock valued at $208,000 after buying an additional 1,721 shares during the period. 61.42% of the stock is currently owned by institutional investors.
About AbCellera Biologics
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.
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