AbCellera Biologics (NASDAQ:ABCL) Upgraded at JonesTrading

JonesTrading upgraded shares of AbCellera Biologics (NASDAQ:ABCL) to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Wednesday, January 21st. Wall Street Zen raised shares of AbCellera Biologics from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $8.40.

AbCellera Biologics Trading Up 2.9%

Shares of NASDAQ:ABCL opened at $3.54 on Thursday. The firm has a 50 day moving average of $3.37 and a 200-day moving average of $4.02. The stock has a market capitalization of $1.07 billion, a PE ratio of -7.22 and a beta of 0.85. AbCellera Biologics has a 12 month low of $1.94 and a 12 month high of $6.51.

AbCellera Biologics (NASDAQ:ABCL) last issued its earnings results on Tuesday, February 24th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.15. The company had revenue of $44.85 million during the quarter, compared to analysts’ expectations of $6.31 million. AbCellera Biologics had a negative net margin of 198.37% and a negative return on equity of 15.05%. On average, research analysts predict that AbCellera Biologics will post -0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On AbCellera Biologics

A number of institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC boosted its stake in shares of AbCellera Biologics by 375.4% in the 4th quarter. Hsbc Holdings PLC now owns 117,031 shares of the company’s stock valued at $401,000 after purchasing an additional 92,414 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of AbCellera Biologics in the 4th quarter valued at $619,000. Invesco Ltd. boosted its stake in shares of AbCellera Biologics by 27.9% in the 4th quarter. Invesco Ltd. now owns 54,603 shares of the company’s stock valued at $187,000 after purchasing an additional 11,914 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of AbCellera Biologics in the 4th quarter valued at $1,242,000. Finally, nVerses Capital LLC bought a new stake in shares of AbCellera Biologics in the 4th quarter valued at $121,000. 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.