AbCellera Biologics Inc. (NASDAQ:ABCL) Receives Consensus Rating of “Hold” from Brokerages

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) have been assigned an average rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.75.

ABCL has been the topic of several research reports. Leerink Partners reissued a “market perform” rating and issued a $4.00 target price on shares of AbCellera Biologics in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a report on Wednesday, October 8th. Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Stifel Nicolaus decreased their price target on shares of AbCellera Biologics from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Finally, Leerink Partnrs cut shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th.

AbCellera Biologics Stock Up 4.6%

Shares of AbCellera Biologics stock opened at $3.65 on Friday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -6.40 and a beta of 0.73. The company’s 50 day moving average is $4.79 and its 200 day moving average is $4.17. AbCellera Biologics has a twelve month low of $1.89 and a twelve month high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last posted its earnings results on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The company had revenue of $6.51 million during the quarter, compared to the consensus estimate of $6.33 million. AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%. Sell-side analysts expect that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Institutional Trading of AbCellera Biologics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning lifted its position in shares of AbCellera Biologics by 6.9% during the 2nd quarter. Creative Planning now owns 41,003 shares of the company’s stock valued at $141,000 after buying an additional 2,656 shares in the last quarter. Raymond James Financial Inc. raised its stake in AbCellera Biologics by 17.0% during the 2nd quarter. Raymond James Financial Inc. now owns 28,049 shares of the company’s stock worth $96,000 after acquiring an additional 4,070 shares during the period. Hollencrest Capital Management purchased a new position in AbCellera Biologics during the third quarter valued at approximately $25,000. XML Financial LLC lifted its holdings in AbCellera Biologics by 21.8% during the third quarter. XML Financial LLC now owns 42,025 shares of the company’s stock valued at $211,000 after purchasing an additional 7,525 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of AbCellera Biologics in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

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.