AbCellera Biologics Inc. (NASDAQ:ABCL) Receives $8.75 Consensus PT from Brokerages

AbCellera Biologics Inc. (NASDAQ:ABCL) has received a consensus recommendation of “Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $8.75.

ABCL has been the subject of several research analyst reports. Leerink Partners initiated coverage on shares of AbCellera Biologics in a research note on Monday, July 7th. They set an “outperform” rating and a $5.00 price target for the company. Leerink Partnrs raised shares of AbCellera Biologics to a “strong-buy” rating in a report on Monday, July 7th. Truist Financial cut their price objective on shares of AbCellera Biologics from $28.00 to $10.00 and set a “buy” rating for the company in a report on Friday, May 16th. Finally, KeyCorp raised their price objective on shares of AbCellera Biologics from $5.00 to $10.00 and gave the stock an “overweight” rating in a report on Monday, July 14th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ABCL. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of AbCellera Biologics by 248.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,671,063 shares of the company’s stock worth $34,946,000 after acquiring an additional 11,171,063 shares during the last quarter. Capital World Investors bought a new stake in shares of AbCellera Biologics during the 4th quarter worth $23,245,000. Norges Bank bought a new stake in shares of AbCellera Biologics during the 4th quarter worth $3,764,000. Millennium Management LLC lifted its holdings in shares of AbCellera Biologics by 96.7% during the 4th quarter. Millennium Management LLC now owns 1,482,715 shares of the company’s stock worth $4,344,000 after acquiring an additional 728,828 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of AbCellera Biologics by 28.6% during the 4th quarter. Two Sigma Investments LP now owns 3,257,311 shares of the company’s stock worth $9,544,000 after acquiring an additional 723,676 shares during the last quarter. 61.42% of the stock is owned by institutional investors.

AbCellera Biologics Stock Up 2.4%

AbCellera Biologics stock opened at $4.34 on Friday. The company’s 50 day moving average price is $3.63 and its two-hundred day moving average price is $2.93. AbCellera Biologics has a 52 week low of $1.89 and a 52 week high of $5.82. The stock has a market cap of $1.30 billion, a P/E ratio of -7.75 and a beta of 0.65.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. AbCellera Biologics had a negative net margin of 737.56% and a negative return on equity of 15.98%. The company had revenue of $4.24 million during the quarter, compared to analyst estimates of $7.12 million. On average, equities analysts anticipate that AbCellera Biologics will post -0.59 EPS for the current year.

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.