Wall Street Zen upgraded shares of AbCellera Biologics (NASDAQ:ABCL – Free Report) from a sell rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.
Several other equities research analysts have also recently weighed in on the stock. Truist Financial increased their price target on shares of AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald boosted their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. 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 note on Tuesday, July 7th. Stifel Nicolaus upped 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.83.
Get Our Latest Stock Report on ABCL
AbCellera Biologics Price Performance
AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.05 million for the quarter, compared to analysts’ expectations of $7.85 million. As a group, sell-side analysts anticipate that AbCellera Biologics will post -0.68 EPS for the current year.
Hedge Funds Weigh In On AbCellera Biologics
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP bought a new stake in shares of AbCellera Biologics in the 4th quarter worth approximately $38,000. Allworth Financial LP increased its position in AbCellera Biologics by 857.0% during the 4th quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock valued at $39,000 after buying an additional 10,096 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in AbCellera Biologics during the 1st quarter valued at approximately $46,000. Magnetar Financial LLC purchased a new position in AbCellera Biologics during the fourth quarter valued at $49,000. Finally, Oxford Asset Management LLP purchased a new position in AbCellera Biologics during the fourth quarter valued at $51,000. Institutional investors own 61.42% of the company’s stock.
AbCellera Biologics Company Profile
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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