JonesTrading Initiates Coverage on AbCellera Biologics (NASDAQ:ABCL)

Equities research analysts at JonesTrading began coverage on shares of AbCellera Biologics (NASDAQ:ABCL) in a report released on Friday,Benzinga reports. The firm set a “buy” rating and a $11.00 price target on the stock. JonesTrading’s price objective would indicate a potential upside of 210.73% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Wednesday, January 21st. Wall Street Zen upgraded 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 assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.40.

AbCellera Biologics Price Performance

Shares of ABCL opened at $3.54 on Friday. The company has a market capitalization of $1.07 billion, a PE ratio of -7.22 and a beta of 0.85. AbCellera Biologics has a one year low of $1.94 and a one year high of $6.51. The company’s fifty day moving average price is $3.37 and its 200 day moving average price is $4.02.

AbCellera Biologics (NASDAQ:ABCL) last announced its earnings results on Tuesday, February 24th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.15. The firm had revenue of $44.85 million for the quarter, compared to the consensus estimate of $6.31 million. AbCellera Biologics had a negative net margin of 198.37% and a negative return on equity of 15.05%. Analysts anticipate that AbCellera Biologics will post -0.59 earnings per share for the current year.

Institutional Trading of AbCellera Biologics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management acquired a new stake in AbCellera Biologics in the 3rd quarter worth $25,000. AssuredPartners Investment Advisors LLC acquired a new stake in AbCellera Biologics in the 4th quarter worth $34,000. Engineers Gate Manager LP acquired a new stake in AbCellera Biologics in the 4th quarter worth $38,000. Allworth Financial LP grew its position in AbCellera Biologics by 857.0% in the 4th quarter. Allworth Financial LP now owns 11,274 shares of the company’s stock worth $39,000 after purchasing an additional 10,096 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in AbCellera Biologics in the 4th quarter worth $49,000. 61.42% of the stock is currently 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.