AbCellera Biologics Inc. (NASDAQ:ABCL) Given Average Recommendation of “Hold” by Brokerages

AbCellera Biologics Inc. (NASDAQ:ABCL) has received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $7.75.

Several equities analysts recently weighed in on ABCL shares. Weiss Ratings restated a “sell (d-)” rating on shares of AbCellera Biologics in a report on Wednesday, January 21st. Wall Street Zen raised AbCellera Biologics from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Leerink Partners downgraded AbCellera Biologics from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Invesco Ltd. raised its holdings in AbCellera Biologics by 114.6% in the first quarter. Invesco Ltd. now owns 24,146 shares of the company’s stock worth $54,000 after purchasing an additional 12,893 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of AbCellera Biologics in the 2nd quarter valued at $35,000. State of Michigan Retirement System bought a new stake in shares of AbCellera Biologics in the 2nd quarter valued at $169,000. Bank of Montreal Can raised its stake in AbCellera Biologics by 46.2% during 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 period. Finally, Geode Capital Management LLC lifted its holdings in AbCellera Biologics by 3.5% during the second quarter. Geode Capital Management LLC now owns 363,188 shares of the company’s stock worth $1,246,000 after acquiring an additional 12,301 shares in the last quarter. Institutional investors and hedge funds own 61.42% of the company’s stock.

AbCellera Biologics Trading Up 2.3%

AbCellera Biologics stock opened at $3.17 on Wednesday. AbCellera Biologics has a 1 year low of $1.89 and a 1 year high of $6.51. The company has a market cap of $948.88 million, a PE ratio of -5.56 and a beta of 0.81. The company’s 50-day moving average is $3.69 and its two-hundred day moving average is $4.27.

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.