AbCellera Biologics (NASDAQ:ABCL) Earns “Sell (D-)” Rating from Weiss Ratings

AbCellera Biologics (NASDAQ:ABCL)‘s stock had its “sell (d-)” rating reiterated by Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the company. Leerink Partnrs upgraded AbCellera Biologics to a “strong-buy” rating in a report on Monday, July 7th. KeyCorp boosted their price objective on AbCellera Biologics from $5.00 to $10.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Leerink Partners assumed coverage on AbCellera Biologics in a report on Monday, July 7th. They set an “outperform” rating and a $5.00 price objective for the company. Wall Street Zen upgraded AbCellera Biologics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Stifel Nicolaus reduced their price objective on AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AbCellera Biologics has an average rating of “Moderate Buy” and an average target price of $8.00.

AbCellera Biologics Stock Down 0.9%

Shares of NASDAQ ABCL opened at $5.66 on Friday. The business’s 50 day moving average price is $4.93 and its two-hundred day moving average price is $3.79. The company has a market cap of $1.69 billion, a PE ratio of -10.29 and a beta of 0.69. AbCellera Biologics has a twelve month low of $1.89 and a twelve month high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $17.08 million for the quarter, compared to the consensus estimate of $7.55 million. AbCellera Biologics had a negative return on equity of 16.17% and a negative net margin of 511.88%. As a group, research analysts anticipate that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Several institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of AbCellera Biologics by 248.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,671,063 shares of the company’s stock valued at $34,946,000 after buying an additional 11,171,063 shares during the period. Federated Hermes Inc. boosted its stake in shares of AbCellera Biologics by 3.4% in the first quarter. Federated Hermes Inc. now owns 947,751 shares of the company’s stock valued at $2,113,000 after buying an additional 31,514 shares during the period. Norges Bank bought a new stake in shares of AbCellera Biologics in the second quarter valued at approximately $2,164,000. Geode Capital Management LLC boosted its stake in shares of AbCellera Biologics by 3.5% in the second quarter. Geode Capital Management LLC now owns 363,188 shares of the company’s stock valued at $1,246,000 after buying an additional 12,301 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in shares of AbCellera Biologics by 24.2% in the second quarter. Osaic Holdings Inc. now owns 268,001 shares of the company’s stock valued at $919,000 after buying an additional 52,227 shares during the period. 61.42% of the stock is currently owned by institutional investors.

About AbCellera Biologics

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.