AbCellera Biologics (NASDAQ:ABCL) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. started coverage on shares of AbCellera Biologics (NASDAQ:ABCL – Get Free Report) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage set an “overweight” rating and a $17.00 price target on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 22.13% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday, July 17th. Cantor Fitzgerald raised their price objective on shares of AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. The Goldman Sachs Group initiated coverage on shares of AbCellera Biologics in a research report on Thursday, September 24th. They issued a “neutral” rating and a $13.00 price objective on the stock. Truist Financial increased their target price on AbCellera Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AbCellera Biologics has an average rating of “Moderate Buy” and an average target price of $13.38.

Get Our Latest Stock Report on ABCL

AbCellera Biologics Stock Performance

Shares of ABCL opened at $13.92 on Tuesday. The stock has a 50 day simple moving average of $9.97 and a 200 day simple moving average of $6.74. AbCellera Biologics has a 52-week low of $2.74 and a 52-week high of $14.23. The firm has a market capitalization of $4.27 billion, a PE ratio of -25.78 and a beta of 1.32.

AbCellera Biologics (NASDAQ:ABCL – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%.The business had revenue of $4.05 million for the quarter, compared to the consensus estimate of $7.85 million. Equities research analysts predict that AbCellera Biologics will post -0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Several large investors have recently made changes to their positions in ABCL. WINTON GROUP Ltd acquired a new position in AbCellera Biologics during the second quarter worth $442,000. NewEdge Advisors LLC lifted its stake in AbCellera Biologics by 4,850.7% in the second quarter. NewEdge Advisors LLC now owns 14,852 shares of the company’s stock valued at $117,000 after acquiring an additional 14,552 shares during the last quarter. HighTower Advisors LLC grew its position 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 valued at $847,000 after acquiring an additional 12,000 shares during the period. XML Financial LLC grew its position 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 valued at $448,000 after acquiring an additional 15,000 shares during the period. Finally, Headlands Technologies LLC increased its stake in shares of AbCellera Biologics by 34.8% during the 2nd quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock worth $1,933,000 after purchasing an additional 63,596 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 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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Analyst Recommendations for AbCellera Biologics (NASDAQ:ABCL)

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