AbCellera Biologics Inc. (NASDAQ:ABCL) Receives $7.75 Average Target Price from Brokerages

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

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a research note on Wednesday, January 21st. Wall Street Zen raised AbCellera Biologics from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th.

AbCellera Biologics Stock Performance

ABCL stock opened at $3.55 on Friday. The company has a 50 day moving average price of $3.64 and a two-hundred day moving average price of $4.14. The stock has a market capitalization of $1.08 billion, a P/E ratio of -7.24 and a beta of 0.84. AbCellera Biologics has a one year low of $1.89 and a one year high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. AbCellera Biologics had a negative return on equity of 15.05% and a negative net margin of 198.37%.The company had revenue of $44.85 million for the quarter, compared to analyst estimates of $6.31 million. Research analysts forecast that AbCellera Biologics will post -0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

Hedge funds have recently modified their holdings of the stock. State of Michigan Retirement System increased its position in AbCellera Biologics by 712.6% during the third quarter. State of Michigan Retirement System now owns 400,000 shares of the company’s stock worth $2,012,000 after purchasing an additional 350,775 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new position in AbCellera Biologics during the third quarter worth approximately $1,317,000. DNB Asset Management AS acquired a new position in shares of AbCellera Biologics in the 3rd quarter valued at $3,301,000. Norges Bank acquired a new position in shares of AbCellera Biologics in the 2nd quarter valued at $2,164,000. Finally, Bank of Montreal Can grew its stake in shares of AbCellera Biologics by 46.2% during the 2nd quarter. Bank of Montreal Can now owns 70,089 shares of the company’s stock valued at $240,000 after buying an additional 22,155 shares during the period. 61.42% of the stock is owned by institutional investors and hedge funds.

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.