AbCellera Biologics Inc. (NASDAQ:ABCL) Given Consensus Recommendation of “Buy” by Brokerages

AbCellera Biologics Inc. (NASDAQ:ABCL) has been given a consensus recommendation of “Buy” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $8.00.

Several analysts have issued reports on ABCL shares. Stifel Nicolaus dropped their target price on AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 8th. Leerink Partners began coverage on AbCellera Biologics in a report on Monday, July 7th. They set an “outperform” rating and a $5.00 price target for the company. Leerink Partnrs upgraded AbCellera Biologics to a “strong-buy” rating in a report on Monday, July 7th. Truist Financial lowered their price target on 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 increased their price target on AbCellera Biologics from $5.00 to $10.00 and gave the stock an “overweight” rating in a report on Monday, July 14th.

Hedge Funds Weigh In On AbCellera Biologics

A number of hedge funds have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 purchasing an additional 11,171,063 shares during the period. Two Sigma Investments LP grew 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 purchasing an additional 723,676 shares during the period. Two Sigma Advisers LP lifted its stake in AbCellera Biologics by 19.8% during the 4th quarter. Two Sigma Advisers LP now owns 2,608,400 shares of the company’s stock worth $7,643,000 after acquiring an additional 430,800 shares in the last quarter. Tang Capital Management LLC lifted its stake in AbCellera Biologics by 12.3% during the 4th quarter. Tang Capital Management LLC now owns 2,582,816 shares of the company’s stock worth $7,568,000 after acquiring an additional 282,816 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in 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 in the last quarter. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

AbCellera Biologics Stock Up 3.3%

Shares of NASDAQ:ABCL opened at $4.37 on Wednesday. The business has a fifty day moving average of $4.20 and a two-hundred day moving average of $3.06. The stock has a market cap of $1.31 billion, a P/E ratio of -7.95 and a beta of 0.65. AbCellera Biologics has a 52-week low of $1.89 and a 52-week high of $5.82.

AbCellera Biologics (NASDAQ:ABCL) last issued its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. The company had revenue of $17.08 million during the quarter, compared to analysts’ expectations of $7.55 million. AbCellera Biologics had a negative return on equity of 16.17% and a negative net margin of 511.88%. On average, equities analysts anticipate that AbCellera Biologics will post -0.59 earnings per share for the current year.

AbCellera Biologics Company Profile

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.