AbCellera Biologics Inc. (NASDAQ:ABCL) Given Average Recommendation of “Hold” by Analysts

Shares of AbCellera Biologics Inc. (NASDAQ:ABCL) have been given a consensus rating of “Hold” by the seven brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $7.75.

Several analysts recently issued reports on the stock. Leerink Partnrs cut shares of AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Wall Street Zen upgraded AbCellera Biologics from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a research report on Wednesday, October 8th. Finally, Leerink Partners reaffirmed a “market perform” rating and issued a $4.00 price target on shares of AbCellera Biologics in a report on Friday, November 7th.

AbCellera Biologics Stock Performance

Shares of ABCL stock opened at $3.46 on Tuesday. AbCellera Biologics has a fifty-two week low of $1.89 and a fifty-two week high of $6.51. The stock’s fifty day moving average is $4.09 and its two-hundred day moving average is $4.35. The firm has a market capitalization of $1.04 billion, a P/E ratio of -6.07 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL) last released its earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The business had revenue of $6.51 million for the quarter, compared to analysts’ expectations of $6.33 million. AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%. On average, equities analysts forecast that AbCellera Biologics will post -0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of AbCellera Biologics by 114.6% during the 1st quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock valued at $54,000 after acquiring an additional 12,893 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in AbCellera Biologics by 248.2% during the first 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. Ballentine Partners LLC acquired a new position in AbCellera Biologics in the 2nd quarter valued at about $81,000. XML Financial LLC acquired a new position in AbCellera Biologics in the 2nd quarter valued at about $118,000. Finally, J2 Capital Management Inc purchased a new stake in shares of AbCellera Biologics in the 2nd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.

About AbCellera Biologics

AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection.

AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis.