AbCellera Biologics (NASDAQ:ABCL) Sets New 52-Week High – Time to Buy?

AbCellera Biologics Inc. (NASDAQ:ABCLGet Free Report)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $9.01 and last traded at $8.83, with a volume of 8136002 shares traded. The stock had previously closed at $6.93.

Wall Street Analyst Weigh In

ABCL has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on shares of AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Benchmark raised shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, July 7th. Finally, Cantor Fitzgerald upped their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.40.

View Our Latest Stock Analysis on ABCL

AbCellera Biologics Stock Up 37.4%

The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -17.64 and a beta of 1.20. The firm has a fifty day moving average price of $6.22 and a 200-day moving average price of $4.69.

AbCellera Biologics (NASDAQ:ABCLGet Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.18) EPS 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 business had revenue of $4.05 million during the quarter, compared to analyst estimates of $7.85 million. Equities research analysts anticipate that AbCellera Biologics Inc. will post -0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ABCL. Invesco Ltd. lifted its holdings in shares of AbCellera Biologics by 114.6% during the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock worth $54,000 after acquiring an additional 12,893 shares during the period. Geode Capital Management LLC grew its holdings in 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 purchasing an additional 12,301 shares during the period. Creative Planning grew its holdings in AbCellera Biologics by 6.9% in the second quarter. Creative Planning now owns 41,003 shares of the company’s stock valued at $141,000 after purchasing an additional 2,656 shares during the period. Raymond James Financial Inc. increased its position in AbCellera Biologics by 17.0% during the second quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock worth $96,000 after purchasing an additional 4,070 shares during the last quarter. Finally, Bank of America Corp DE increased its position in AbCellera Biologics by 1,304.5% during the second quarter. Bank of America Corp DE now owns 224,365 shares of the company’s stock worth $770,000 after purchasing an additional 208,390 shares during the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

(Get Free Report)

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.

Further Reading

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