AbCellera Biologics Inc. (NASDAQ:ABCL) Short Interest Down 15.2% in May

AbCellera Biologics Inc. (NASDAQ:ABCLGet Free Report) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 19,750,000 shares, a drop of 15.2% from the April 30th total of 23,290,000 shares. Currently, 9.6% of the company’s shares are sold short. Based on an average daily volume of 1,350,000 shares, the days-to-cover ratio is presently 14.6 days.

Analyst Ratings Changes

Several research firms have issued reports on ABCL. KeyCorp cut their price target on shares of AbCellera Biologics from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Benchmark raised AbCellera Biologics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus reduced their price target on AbCellera Biologics from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AbCellera Biologics presently has a consensus rating of “Buy” and a consensus price target of $16.17.

Read Our Latest Stock Report on ABCL

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Pacifica Partners Inc. lifted its stake in shares of AbCellera Biologics by 82.9% in the 4th quarter. Pacifica Partners Inc. now owns 4,820 shares of the company’s stock valued at $28,000 after purchasing an additional 2,185 shares during the period. NBC Securities Inc. purchased a new position in AbCellera Biologics during the third quarter valued at $30,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of AbCellera Biologics during the 3rd quarter valued at $48,000. Signaturefd LLC grew its position in shares of AbCellera Biologics by 306.3% in the 4th quarter. Signaturefd LLC now owns 10,596 shares of the company’s stock worth $61,000 after buying an additional 7,988 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of AbCellera Biologics in the 4th quarter worth about $62,000. 61.42% of the stock is owned by hedge funds and other institutional investors.

AbCellera Biologics Trading Down 1.0 %

AbCellera Biologics stock opened at $4.04 on Friday. The firm has a market cap of $1.19 billion, a P/E ratio of -7.77 and a beta of 0.42. AbCellera Biologics has a 1-year low of $3.58 and a 1-year high of $8.05. The firm has a 50-day moving average of $4.07 and a 200-day moving average of $4.74.

AbCellera Biologics (NASDAQ:ABCLGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.02. AbCellera Biologics had a negative return on equity of 12.61% and a negative net margin of 410.47%. The business had revenue of $9.95 million during the quarter, compared to analysts’ expectations of $10.73 million. During the same quarter last year, the business posted ($0.14) EPS. The business’s revenue was down 18.4% on a year-over-year basis. Research analysts forecast that AbCellera Biologics will post -0.6 earnings per share for the current fiscal year.

About AbCellera Biologics

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for AbCellera Biologics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbCellera Biologics and related companies with MarketBeat.com's FREE daily email newsletter.