Weekly Investment Analysts’ Ratings Updates for AbCellera Biologics (ABCL)

Several analysts have recently updated their ratings and price targets for AbCellera Biologics (NASDAQ: ABCL):

  • 5/11/2022 – AbCellera Biologics was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “AbCellera Biologics Inc. is a technology company which searches, decodes and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat disease. AbCellera Biologics Inc. is based in Vancouver, Canada. “
  • 5/11/2022 – AbCellera Biologics had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $40.00 price target on the stock.
  • 5/11/2022 – AbCellera Biologics had its price target lowered by analysts at Piper Sandler from $28.00 to $21.00.
  • 5/2/2022 – AbCellera Biologics was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $8.50 price target on the stock. According to Zacks, “AbCellera Biologics Inc. is a technology company which searches, decodes and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat disease. AbCellera Biologics Inc. is based in Vancouver, Canada. “

ABCL stock traded up $0.23 during trading on Tuesday, reaching $8.04. The stock had a trading volume of 57,870 shares, compared to its average volume of 2,009,382. AbCellera Biologics Inc. has a 52 week low of $5.42 and a 52 week high of $36.05. The stock’s 50 day moving average is $8.50 and its two-hundred day moving average is $10.90. The firm has a market cap of $2.29 billion, a PE ratio of 12.56 and a beta of -0.26.

AbCellera Biologics (NASDAQ:ABCLGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. The firm had revenue of $316.58 million during the quarter, compared to the consensus estimate of $208.96 million. During the same period in the prior year, the company posted $0.37 EPS. The firm’s revenue was up 56.2% compared to the same quarter last year. Research analysts predict that AbCellera Biologics Inc. will post 0.48 EPS for the current fiscal year.

In other AbCellera Biologics news, major shareholder Holdings Ltd. Thermopylae bought 1,408,468 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were bought at an average price of $6.41 per share, with a total value of $9,028,279.88. Following the purchase, the insider now owns 55,215,758 shares of the company’s stock, valued at $353,933,008.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Veronique Lecault bought 230,789 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were acquired at an average cost of $8.66 per share, for a total transaction of $1,998,632.74. The disclosure for this purchase can be found here. Insiders bought 1,754,257 shares of company stock worth $11,785,463 in the last ninety days. Corporate insiders own 45.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABCL. Botty Investors LLC purchased a new position in shares of AbCellera Biologics in the 3rd quarter worth approximately $9,244,000. BlackRock Inc. boosted its holdings in shares of AbCellera Biologics by 8.8% in the 3rd quarter. BlackRock Inc. now owns 976,587 shares of the company’s stock worth $19,571,000 after purchasing an additional 79,400 shares during the period. Morgan Stanley boosted its holdings in shares of AbCellera Biologics by 28.2% in the 3rd quarter. Morgan Stanley now owns 736,019 shares of the company’s stock worth $14,750,000 after purchasing an additional 161,826 shares during the period. Intellectus Partners LLC boosted its holdings in shares of AbCellera Biologics by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,223,429 shares of the company’s stock worth $24,518,000 after purchasing an additional 16,450 shares during the period. Finally, PEAK6 Investments LLC purchased a new position in shares of AbCellera Biologics in the 3rd quarter worth approximately $246,000. Institutional investors and hedge funds own 39.58% of the company’s stock.

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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