AbCellera Biologics’ (ABCL) “Buy” Rating Reaffirmed at BMO Capital Markets

AbCellera Biologics (NASDAQ:ABCL – Get Rating)‘s stock had its “buy” rating reiterated by analysts at BMO Capital Markets in a research note issued on Wednesday, TipRanks reports. They currently have a $40.00 target price on the stock.

A number of other analysts also recently commented on ABCL. Zacks Investment Research upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Monday, May 2nd. Piper Sandler dropped their price target on shares of AbCellera Biologics from $28.00 to $21.00 in a research report on Wednesday. Credit Suisse Group boosted their price target on shares of AbCellera Biologics from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, February 25th. Finally, SVB Leerink dropped their price target on shares of AbCellera Biologics from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, February 25th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $26.08.

AbCellera Biologics stock traded down $0.68 during midday trading on Wednesday, reaching $5.96. 77,800 shares of the stock traded hands, compared to its average volume of 1,881,837. The firm has a fifty day moving average price of $8.63 and a two-hundred day moving average price of $11.18. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 12.68 and a beta of -0.27. AbCellera Biologics has a fifty-two week low of $6.10 and a fifty-two week high of $36.05.

AbCellera Biologics (NASDAQ:ABCL – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.16. The company had revenue of $316.58 million for the quarter, compared to the consensus estimate of $208.96 million. During the same quarter last year, the firm posted $0.37 earnings per share. The firm’s quarterly revenue was up 56.2% compared to the same quarter last year. On average, research analysts expect that AbCellera Biologics will post 0.46 EPS for the current year.

In other news, Director John S. Montalbano bought 10,000 shares of the company’s stock in a transaction dated Friday, March 4th. The shares were acquired at an average cost of $8.54 per share, with a total value of $85,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John S. Montalbano bought 20,000 shares of the company’s stock in a transaction dated Tuesday, March 1st. The stock was purchased at an average cost of $9.05 per share, for a total transaction of $181,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 260,789 shares of company stock worth $2,265,033 over the last quarter. Insiders own 45.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC increased its position in shares of AbCellera Biologics by 72.2% in the third quarter. Eagle Bay Advisors LLC now owns 3,100 shares of the company’s stock worth $62,000 after acquiring an additional 1,300 shares in the last quarter. Bank of America Corp DE grew its position in AbCellera Biologics by 67.9% during the fourth quarter. Bank of America Corp DE now owns 4,108 shares of the company’s stock valued at $59,000 after purchasing an additional 1,661 shares in the last quarter. Scotia Capital Inc. grew its position in AbCellera Biologics by 12.3% during the third quarter. Scotia Capital Inc. now owns 16,023 shares of the company’s stock valued at $321,000 after purchasing an additional 1,757 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in AbCellera Biologics by 13.1% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,008 shares of the company’s stock valued at $156,000 after purchasing an additional 1,854 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in AbCellera Biologics by 23.9% during the third quarter. Geneos Wealth Management Inc. now owns 10,337 shares of the company’s stock valued at $177,000 after purchasing an additional 1,997 shares in the last quarter. 39.58% of the stock is currently owned by institutional investors and hedge funds.

AbCellera Biologics Company Profile (Get Rating)

AbCellera Biologics Inc develops antibody discovery platform. Its full-stack, artificial intelligence-powered antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed as drugs. As of December 31, 2021, the company had 156 discovery programs that are either completed, in progress, or under contract with 36 partners.

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