AbCellera Biologics (NASDAQ:ABCL) Trading 7% Higher

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) shot up 7% on Friday . The company traded as high as $4.20 and last traded at $4.12. 754,245 shares changed hands during trading, a decline of 45% from the average session volume of 1,366,338 shares. The stock had previously closed at $3.85.

Wall Street Analyst Weigh In

Several research firms have issued reports on ABCL. Benchmark upgraded AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Thursday, February 22nd. Stifel Nicolaus reduced their price objective on shares of AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AbCellera Biologics currently has an average rating of “Buy” and a consensus target price of $15.86.

AbCellera Biologics Stock Up 4.7 %

The stock has a fifty day moving average price of $4.44 and a two-hundred day moving average price of $4.79. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -7.75 and a beta of 0.42.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Tuesday, February 20th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). AbCellera Biologics had a negative net margin of 384.99% and a negative return on equity of 12.36%. The firm had revenue of $9.18 million during the quarter, compared to analysts’ expectations of $9.58 million. As a group, research analysts forecast that AbCellera Biologics Inc. will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AbCellera Biologics

Several large investors have recently added to or reduced their stakes in the business. Pacifica Partners Inc. lifted its holdings in shares of AbCellera Biologics by 82.9% during the 4th quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock worth $28,000 after acquiring an additional 2,185 shares during the period. NBC Securities Inc. purchased a new stake in shares of AbCellera Biologics during the 3rd quarter valued at $30,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of AbCellera Biologics by 96.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,423 shares of the company’s stock worth $34,000 after buying an additional 3,638 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of AbCellera Biologics in the 3rd quarter worth $48,000. Finally, Signaturefd LLC grew its position in AbCellera Biologics by 306.3% during the fourth quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock valued at $61,000 after acquiring an additional 7,988 shares during the period. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

About AbCellera Biologics

AbCellera Biologics Inc builds an engine for antibody drug discovery and development. Its engine discovers antibodies from natural immune responses, which are pre-enriched for antibodies. The company's preclinical products are ABCL635 for metabolic and endocrine conditions; and ABCL575 for atopic dermatitis.