AbCellera Biologics (NASDAQ:ABCL) Sees Unusually-High Trading Volume – What’s Next?

AbCellera Biologics Inc. (NASDAQ:ABCLGet Free Report) saw unusually-strong trading volume on Thursday . 5,340,846 shares traded hands during mid-day trading, a decline of 13% from the previous session’s volume of 6,108,420 shares.The stock last traded at $10.5270 and had previously closed at $10.35.

Analyst Ratings Changes

Several research analysts have recently issued reports on ABCL shares. Wall Street Zen downgraded AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Stifel Nicolaus increased their price objective on shares of AbCellera Biologics from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. Benchmark upgraded 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 report on Tuesday, July 7th. Finally, Truist Financial upped 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.83.

Get Our Latest Stock Report on AbCellera Biologics

AbCellera Biologics Stock Performance

The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of -21.07 and a beta of 1.20. The company has a fifty day simple moving average of $6.65 and a two-hundred day simple moving average of $4.90.

AbCellera Biologics (NASDAQ:ABCLGet Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $7.85 million. AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. As a group, analysts expect that AbCellera Biologics Inc. will post -0.68 EPS for the current year.

Hedge Funds Weigh In On AbCellera Biologics

Large investors have recently added to or reduced their stakes in the business. AssuredPartners Investment Advisors LLC purchased a new stake in AbCellera Biologics in the 4th quarter valued at about $34,000. Engineers Gate Manager LP acquired a new position in shares of AbCellera Biologics during the 4th quarter valued at about $38,000. Allworth Financial LP lifted its holdings in shares of AbCellera Biologics by 857.0% during the 4th quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock worth $39,000 after acquiring an additional 10,096 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of AbCellera Biologics during the 1st quarter worth about $46,000. Finally, Magnetar Financial LLC acquired a new stake in shares of AbCellera Biologics in the fourth quarter worth approximately $49,000. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

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.

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