AbCellera Biologics (NASDAQ:ABCL) Upgraded by Wall Street Zen to Hold Rating

AbCellera Biologics (NASDAQ:ABCL) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also commented on ABCL. Leerink Partners lowered AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, AbCellera Biologics presently has a consensus rating of “Hold” and an average target price of $7.75.

AbCellera Biologics Stock Up 5.4%

Shares of NASDAQ ABCL opened at $3.10 on Friday. The firm has a market cap of $927.92 million, a PE ratio of -5.44 and a beta of 0.81. The company’s fifty day simple moving average is $3.71 and its 200 day simple moving average is $4.29. AbCellera Biologics has a 12-month low of $1.89 and a 12-month high of $6.51.

Hedge Funds Weigh In On AbCellera Biologics

Several institutional investors have recently modified their holdings of ABCL. Invesco Ltd. lifted its holdings in AbCellera Biologics by 114.6% during the first quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock worth $54,000 after acquiring an additional 12,893 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of AbCellera Biologics during the 2nd quarter valued at $35,000. State of Michigan Retirement System purchased a new stake in shares of AbCellera Biologics during the 2nd quarter valued at $169,000. Bank of Montreal Can boosted its holdings in shares of AbCellera Biologics by 46.2% in the 2nd quarter. Bank of Montreal Can now owns 70,089 shares of the company’s stock worth $240,000 after buying an additional 22,155 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of AbCellera Biologics by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 363,188 shares of the company’s stock worth $1,246,000 after buying an additional 12,301 shares during the last quarter. 61.42% of the stock is owned by institutional investors.

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.