Wall Street Zen cut shares of AbCellera Biologics (NASDAQ:ABCL – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.
A number of other equities research analysts have also weighed in on the stock. 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 note on Tuesday, July 7th. Stifel Nicolaus raised their price target on AbCellera Biologics from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Cantor Fitzgerald lifted their price objective on AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. Finally, Truist Financial upped their price objective on AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AbCellera Biologics presently has an average rating of “Moderate Buy” and an average price target of $12.86.
View Our Latest Stock Report on AbCellera Biologics
AbCellera Biologics Stock Performance
AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The firm had revenue of $4.05 million for the quarter, compared to analysts’ expectations of $7.85 million. AbCellera Biologics had a negative net margin of 248.83% and a negative return on equity of 17.49%. As a group, sell-side analysts forecast that AbCellera Biologics will post -0.68 earnings per share for the current fiscal year.
Hedge Funds Weigh In On AbCellera Biologics
Several institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd bought a new stake in AbCellera Biologics in the second quarter worth $442,000. NewEdge Advisors LLC lifted its position in AbCellera Biologics by 4,850.7% during the second quarter. NewEdge Advisors LLC now owns 14,852 shares of the company’s stock valued at $117,000 after purchasing an additional 14,552 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of AbCellera Biologics by 12.5% in the 2nd quarter. HighTower Advisors LLC now owns 107,933 shares of the company’s stock worth $847,000 after buying an additional 12,000 shares in the last quarter. XML Financial LLC grew its stake in shares of AbCellera Biologics by 35.7% in the 2nd quarter. XML Financial LLC now owns 57,025 shares of the company’s stock worth $448,000 after buying an additional 15,000 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of AbCellera Biologics by 34.8% in the 2nd quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock worth $1,933,000 after buying an additional 63,596 shares in the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.
About AbCellera Biologics
AbCellera Biologics Inc is a biotechnology company that develops antibody-based medicines in partnership with pharmaceutical and biotechnology companies. Its technology platform combines artificial intelligence, machine learning, high-throughput screening, single-cell analysis and other laboratory techniques to identify and evaluate antibody candidates.
The company provides integrated antibody discovery and development services, helping partners move from biological targets and immune-cell samples to optimized therapeutic antibody candidates.
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