AbCellera Biologics Inc. (NASDAQ:ABCL) Receives $8.00 Consensus Price Target from Analysts

AbCellera Biologics Inc. (NASDAQ:ABCL) has received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $8.00.

A number of analysts recently weighed in on ABCL shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AbCellera Biologics in a report on Friday. Wall Street Zen lowered shares of AbCellera Biologics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Benchmark upgraded shares of AbCellera Biologics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Tuesday, July 7th. Cantor Fitzgerald assumed coverage on shares of AbCellera Biologics in a research note on Tuesday, May 5th. They issued an “overweight” rating and a $7.00 price target on the stock. Finally, JonesTrading began coverage on AbCellera Biologics in a report on Friday, April 10th. They set a “buy” rating and a $11.00 price target on the stock.

Institutional Trading of AbCellera Biologics

Several large investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB raised its stake in AbCellera Biologics by 27.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 147,900 shares of the company’s stock valued at $1,161,000 after acquiring an additional 32,200 shares in the last quarter. Bank of America Corp DE grew its stake in shares of AbCellera Biologics by 13.9% in the first quarter. Bank of America Corp DE now owns 2,999,936 shares of the company’s stock worth $10,470,000 after purchasing an additional 367,064 shares in the last quarter. Royal Bank of Canada grew its stake in shares of AbCellera Biologics by 5.6% in the first quarter. Royal Bank of Canada now owns 394,753 shares of the company’s stock worth $1,378,000 after purchasing an additional 20,897 shares in the last quarter. SEB Asset Management AB acquired a new position in shares of AbCellera Biologics during the first quarter valued at $1,188,000. Finally, Hsbc Holdings PLC increased its holdings in shares of AbCellera Biologics by 22.6% during the first quarter. Hsbc Holdings PLC now owns 143,472 shares of the company’s stock valued at $499,000 after purchasing an additional 26,441 shares during the period. 61.42% of the stock is currently owned by institutional investors and hedge funds.

AbCellera Biologics Price Performance

Shares of NASDAQ ABCL opened at $5.80 on Friday. AbCellera Biologics has a 1-year low of $2.74 and a 1-year high of $8.44. The business’s fifty day moving average price is $5.98 and its two-hundred day moving average price is $4.51. The firm has a market capitalization of $1.77 billion, a PE ratio of -12.08 and a beta of 1.14.

AbCellera Biologics (NASDAQ:ABCL) last posted its earnings results on Monday, May 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.08. The company had revenue of $8.31 million for the quarter, compared to analysts’ expectations of $5.41 million. AbCellera Biologics had a negative return on equity of 14.86% and a negative net margin of 181.75%.During the same period last year, the business posted ($0.15) earnings per share. Equities research analysts expect that AbCellera Biologics will post -0.67 earnings per share for the current fiscal year.

About AbCellera Biologics

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.