AbCellera Biologics (NASDAQ:ABCL) Rating Increased to Hold at Wall Street Zen

AbCellera Biologics (NASDAQ:ABCL) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Monday.

ABCL has been the topic of several other reports. Leerink Partnrs downgraded AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. 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 objective on shares of AbCellera Biologics in a research note on Friday, November 7th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.75.

AbCellera Biologics Price Performance

ABCL opened at $4.37 on Monday. AbCellera Biologics has a fifty-two week low of $1.89 and a fifty-two week high of $6.51. The company’s 50 day moving average price is $3.76 and its two-hundred day moving average price is $4.37. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -7.67 and a beta of 0.73.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly 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). AbCellera Biologics had a negative return on equity of 17.21% and a negative net margin of 493.42%.The business had revenue of $6.51 million for the quarter, compared to analyst estimates of $6.33 million. As a group, equities research analysts predict that AbCellera Biologics will post -0.59 EPS for the current year.

Institutional Investors Weigh In On AbCellera Biologics

Large investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in AbCellera Biologics by 248.2% in 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 in the last quarter. Baillie Gifford & Co. grew its position in shares of AbCellera Biologics by 0.6% during the 3rd quarter. Baillie Gifford & Co. now owns 10,422,966 shares of the company’s stock worth $52,428,000 after buying an additional 62,962 shares during the period. Two Sigma Investments LP increased its stake in shares of AbCellera Biologics by 25.9% in the 3rd quarter. Two Sigma Investments LP now owns 5,175,142 shares of the company’s stock valued at $26,031,000 after acquiring an additional 1,064,290 shares in the last quarter. Bank of America Corp DE increased its stake in shares of AbCellera Biologics by 977.8% in the 3rd quarter. Bank of America Corp DE now owns 2,418,304 shares of the company’s stock valued at $12,164,000 after acquiring an additional 2,193,939 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of AbCellera Biologics during the 3rd quarter valued at $3,707,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Company Profile

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.